Here we go again...
SECU Board Chairman Chris Ayers stated boldly - and without blinking much - in the SECU Fireside Chat [link...at 7:42] video that LGFCU had been "strategically planning to become independent for years".
Well, if LGFCU had truely been planning to make an abrupt move to independence at the end of 2022, wouldn't you have bet that CEO Dwayne Naylor and staff at least had a strategic plan on how to make LGFCU members loans? Sure you would!
Take a look at the status of the current LGFCU strategic plan for lending as of April 4, 2023...
[Sorry this didn't display earlier. If you can't quite make it out; it's a screen-shot of a LGFCU senior exec asking - on a credit union list serve - for help in finding a third party consumer lender and processor...3 days ago. A blank pix and a "?" work just as well...]
... How does one strategically plan to jump out of a plane without a parachute! No more branches was wacky, no more loans....nah, there is, to quote Chairman Ayers, some "for years planning" underneath all this somewhere - hopefully so!
