Monday, April 24, 2023

H. 410 - Credit Union Updates - Enlightened Self-Interest Or "Down The Tubes"?.  H. 410 fundamentally changes the traditional purpose, structure, and focus of North Carolina credit unions. We've talked about those issues in the past - particularly in the April 5, 2023 post, which is a detailed letter on H. 410 to Representative Matthew Winslow (Franklin/Granville County area). The Carolinas' Credit Union League says "taint so!".

Our Legislators in the House have a dilemma - actually two! The primary sponsors of H. 410 are Representatives Julia Howard (Mocksville/Davie County area) and Representative John Bell IV (Goldsboro/Wayne County area). First, Ms. Howard is the longest serving representative in the House and is highly regarded by the constituents in her district - reelected time and time again with 70+% of the vote. She knows what she is there for and good at it! 

Mr. Bell also is long-serving and effective. Most importantly, Mr. Bell is the Republican Majority Leader in the State House. As the Majority Leader, he is principally charged with "making things happen" - or not happen - among Republicans in the House. Both folks you would not want "to cross". If you did, your effectiveness in the House would be impaired, your future in politics perhaps endangered. 

With Ms. Howard and Mr. Bell as primary sponsors of H. 410, it would be reasonable to assume the bill has been "wired" for passage in the House from "Day 1".  In most of our personal and business relationships, we take people "at their word"; and like it or not, that's what makes the world go 'round. You just have to take folks at face value, assume the best, trust them - until their actions prove different. The State Legislature works the same way - and that's the way it should be, if they want to get the business of the State done. 

Credit unions are a minor or unknown issue to most representatives. Why would they "risk their political neck" over something inconsequential like "Credit Union Updates" - especially if Ms. Howard and  Republican Majority Leader Bell had put their political reputations solidly behind H. 410, as "primary sponsors"? The answer is they wouldn't, unless...

Unless the Carolinas' Credit Union League had under-informed and misled Representatives Howard and Majority Leader Bell...and you could prove it beyond the shadow of a doubt.

What do you think your representatives would do if you showed them - beyond a shadow of a doubt - that the information on H. 410 was inaccurate and misleading? What do you think their constituents would do, if their representatives proceeded to vote - despite knowing the truth - for H. 410? 

This "little matter" of truthfulness and trust - called H. 410 - is not "going away"... in fact, looks certain to blow up with the public very shortly...

Would Ms. Howard and Majority Leader Bell knowingly send their colleagues "down the tubes"?

So readers, what's your take?



... bet the House "D's" sure hope the "R"s bring H. 410 to the floor "for debate"!

H. 410 - Credit Union Updates - SECU Board Letter To Advisory Board Members - 4/24/2023, at least we now have it on record- publicly and officially - that the SECU Board fully supports the Carolinas' Credit Union League's misrepresentations to the State Legislature ! Let the games begin...