Friday, May 12, 2023

And Not To Forget LGFCU Members - 400,000 "Beneficiaries" Of SECU's "No Formal Proposal" Proposal!

Working on the SECU financials...was hoping SECU would go ahead and post them, but as usual, transparency is no longer the norm. And anyway commenters were running amuck today....having way too much fun!

In the meantime here is some info on LGFCU.  Why keep mentioning them? Because 400,000 LGFCU members have been placed in financial limbo by the reckless ineptitude of Chris Ayer, the SECU Board and their minions in senior management. Gross incompetence, harmful to North Carolina local government employees and their families

Here are the March 31, 2023 financial reports filed with the federal government for LGFCU.

If you're having difficulty reading it [here's a link...request on line FPR for 3/2023]. The far right column is your data for March, 2023 (other columns show prior quarters). 

LGFCU is a safe, sound $4 billion credit union.


At the end of March, 2023 growth in deposits had started to stall and overall net income had turned negative for the first time in 40 years. 

As Mark Twain said about that "all digital, no branches, Independence Day" proposal by the CEO at LGFCU....

"A man who carries a cat by the tail learns something he can learn in no other way." - Mark Twain