Tuesday, June 20, 2023

The Candidate Search - Knowing Where The Problem Lies, Part 16 - "This Board" Meets Today


✅ Mr. Hayes was not the principal problem at SECU, never was. 

✅ The principal problem remains: "How did Mr. Hayes ever arrive at SECU as CEO in the first place? "

✅ The "problem lies" elsewhere... 

Do The SECU Membership A Big Favor...
Board of Directors Group Image

                ... make the rest of us smile!

In Case You Are Becoming Irate And Would Like To Run For The SECU Board....

Board of Directors Group Image 

... that smile is beginning to look somewhat "Cheshire Cat-like"! ... as in "Alice in Wonder-la-la-land"

✅ Do you honestly believe that the 32 page Board Candidate Package * [see link below], which "This Board" released today will "empower member participation and increase Board of Director election transparency and security"? [A quote from the new/new election procedures just adopted]**


👍* Why not contact Ms. Amy Funderburk, Board Governance Lead , for your opportunity to fill out a 32-page form! - Board Corporate Secretary <Board.Corporate.Secretary@ncsecu.org> ....... request a package and take a look!

* * Important Update Regarding State Employees' Credit Union Board Election Policies and Procedures – April 13, 2023  [Timing was entirely coincidental!]

The Board has unanimously voted to adopt changes to SECU’s Board Election Policies and Procedures [for first time in 10 years!] to empower member participation and increase Board of Director election transparency and security. These changes are being implemented for the 2023 SECU Annual Meeting and Board elections. [Again, entirely coincidental!]

These changes will:
  • Expand voting options for SECU members. SECU is partnering with an independent credit union election facilitator [the membership of SECU really needs to watch out for this one!] to ensure members have access to convenient and secure voting options. If there are more candidates than vacancies to be filled, members can cast ballots in person at the annual meeting or vote online during an absentee voting period.
  • Increase member visibility into Board candidates’ experience. All Board candidates will be asked to provide a brief statement of background as part of their candidate package. This statement will be posted to the SECU website and provided to all voting members to inform their understanding of candidates’ qualifications to serve on the Board.
  • Improve self-nomination petition requirements to enhance election integrity. As in prior years, a Nominating Committee will be appointed by the Chair of the Board to screen nominees and recommend candidates. Candidates not selected by the Nominating Committee will be sent a self-nomination packet if they choose to continue their candidacy, and membership status of self-nomination petition signatories will be verified by an independent auditor to ensure participation by members only.
Details of these changes to our Elections Policies and Procedures have been posted in all of our branches.

  ...as Alice would say: "Curiouser and curiouser"!

Need An Agenda Item For Today's "All Signatures, All Smiles" Meeting?



February 18, 2023

Chairman Chris Ayers
SECU Board of Directors
119 N. Salisbury Street
Raleigh, North Carolina 27601

Ref: SEANC Resolution Regarding Risk-Based Lending at SECU

Dear Chairman Ayers:

The State Employees Association of North Carolina (SEANC) represents over 46,000 state employees in North Carolina, most of whom are members of the State Employees' Credit Union (SECU). SEANC has followed with great interest the recent discussions over the future direction of SECU. SEANC is particularly concerned with the introduction of risk-based lending at the credit union. It seems clear that risk-based lending will adversely impact the future cost of loans for a majority of state employees, not just SEANC members - and all members of SECU. SECU intends to introduce risk-based lending as of
March 1, 2023. SEANC is committed to protecting and enhancing the rights and benefits of current, retired and future state employees. With SEANC’s mission statement and the mission statement of SECU, and given our concern over your action, the SEANC Board of Governors, at its meeting on February 18, 2023, approved unanimously, the following resolution:

"The Board of Governors of the State Employees Association of North Carolina (SEANC) requests that the Board of Directors of the State Employees' Credit Union (SECU) rescind its approval of the risk-based lending program at its upcoming board meeting on Tuesday, February 21, 2023. The SEANC Board also requests that the SECU Board confirm its action with SEANC’s Executive Director Ardis Watkins, by no later than 5:00 pm on February 24, 2023. Should the SECU Board refuse to rescind implementation of the risk-based lending program, SEANC reserves the right to pursue all avenues available to block implementation of that program; and further, "



Board of Directors Group Image

...or would you prefer to just keep smiling at SEANC and the membership, and act like nothing "unusual" is going on at SECU?


... looks like "your ship [er, "yacht"] is about to come in"!

Today's SECU "All Signatures, All Smiles" Board Meeting

 Hey, have y'all seen the May, 2023 SECU financials...

Board of Directors Group Image 

                    .... then why are you smiling?


  Head up, Stay strong, Fake a smile, Move on? 

The Candidate Search - Knowing Where The Problem Lies, Part 15 -The "All Signatures" Endorsement

The "All Signatures" Fan Club...