The brashest and most insulting lie put forth by the current senior management at SECU - and endorsed by the current SECU Board in their "Fireside Chats" last November - is that SECU "hasn't updated its technology since 1983".
Here again is the quote from the Triangle Business Journal (TBJ):"But the Raleigh-based credit union has not been known as a forward-looking IT organization, Hayes said. Changing that perception requires investment, and to do it safely, it also requires three to four years. SECU hasn’t updated its systems since 1983, and change won’t happen “overnight.”
Back in March former CEO Mike Lord and the former CIO at SECU met with TBJ's editor Sougata Mukhergee to ask for a retraction. Mr. Mukhergee confirmed the story and the accuracy of the quote. [see 3/10/2023 post]
End of story? Well not exactly....
Despite the apparent lost of a moral compass at "New/New" SECU, the truth should keep struggling to be heard...
On the SECU website you will find a chronology of significant events in the history of SECU. Here's where you can take a look [link...History of SECU].
Here's an excerpted list of a few technology changes which SECU proudly lists as occurring since 1983. It should not be overlooked that many of the other advancements in products and services were only possible because SECU had a strong IT group and a firm grasp on its' technology structure - technological astuteness made those things happen!
1982 ✅The first CashPoints® ATM machine became operational.
1990 ✅The credit union introduced ASK SECU Voice Response System for access to account information 24 hours a day, 365 days per year.
1992 ✅ The credit union joined Interlink, an international point-of-sale network.
1993 ✅ ...over 400 ATMs.
1996 ✅ The credit union began the first phase of the Call Center.
1997 ✅ The Call Center expanded its services by providing loan services, account/service information, and by opening new accounts for existing members.
1998 ✅ Visa® Check card was introduced to allow members the convenience of a card that works like a check.
1999 ✅ Introduced the credit union website - SECU Online at www.ncsecu.org. "Member Access" introduced to provide online access to accounts, products and services.
2000 ✅ ...CashPoints® ATMs in all 100 North Carolina counties.
2003 ✅ Introduced SECU’s BillPay service.
2005 ✅ Enhanced SECU website and online services features to provide greater security and more member options.
2007 ✅ Upgraded ATM network with Voice Guidance technology for the visually impaired.
2008 ✅ Implemented MARGO, a new teller and branch platform system to benefit members and employees. Provides an enhanced level of service and security through the utilization of SECU’s Member Photo ID cards, and positions SECU for future technological growth.
✅ Launched Mobile Access to allow members to connect to account information from web enabled cell phones and other mobile devices.
2010 ✅ Began offering two new electronic services – Two-Way Text Messaging and Alerts.
2011 ✅ Added EMV (chip) technology to SECU debit cards for increased transaction security.
2013 ✅ Expanded SECU Contact Centers to ten rural NC areas, aiding job creation in regions of the stateexperiencing high unemployment.
2016 ✅ Launched Mobile Payments service with Apple PayTM, Samsung PayTM and Android PayTM options, as well as Visa® Checkout for SECU debit and credit cardholders.
2018 ✅ Enhanced the ASK SECU Voice Response System with speech recognition technology and intelligent card entry.
2019 ✅ Launched the SECU Mobile App, providing a secure, convenient method for members to view account information and conduct financial transactions using smartphones or mobile devices.
2020 ✅ Launched the much-anticipated Mobile Check Deposit feature of the SECU Mobile App.
...as they say it often takes a little while for the truth to catch up with a lie - and confirmed liars. Confirmed by the facts and folks like TBJ.
What should the membership do about this?
...be sure to take a look at The #1 Historical Highlight for SECU in 2022 at "New/New" for your 2.7 million member, $50 billion cooperative (really do go back and look!). Kinda says it all about the "New/New" at SECU, doesn't it.
