... or less at SECU!
Member deposits at SECU have dropped by almost $4 billion in the last l2 months - the first decline in 85 years! Why are SECU members moving their savings away from the Credit Union? Because the SECU Board won't pay members - many of whom are retirees - a competitive rate. SECU in the past paid members among the best savings rates in North Carolina - that's no longer true!. https://secuvote.ey.com/
The SECU Board is paying an interest rate of just 1% or less on over $26 billion in member savings (MMSA/shares) held by the Credit Union. If you check NerdWallet or other internet sites, you would find the following low minimum, savings accounts readily available in North Carolina -Ally Bank, 4.25%; American Express, 4.25%, Discover, 4.30%; TIAA, 4.75%; Barclay's, 4.35%, Live Oak, 4.15% and numerous other smaller banks. NerdWallet surveyed over 50 financial institutions around N.C. - the SECU Board's lowball savings rates didn't even make the top 25! https://secuvote.ey.com/
What's the lost income cost of SECU's 1% (or less!) savings rate to members vs. the fair market rate of @ 4%? That enormous 3% difference is costing SECU members @ - $780 million each year! Most SECU members can't afford to give up that much money in these high inflation times! Didn't use to be this way in the past; doesn't have to be this way in the future! https://secuvote.ey.com/
SECU Members have independently nominated
3 long time members - Barbara Perkins (Raleigh), Michael Clements
(Winston-Salem), and Chuck Stone (Goldsboro) to halt the growing distrust of the existing board members. It's time for a change - and better rates - at SECU!
(Election starts September 1 - https://secuvote.ey.com/)