Thursday, November 2, 2023

SECU - The Pause That Refreshes: Why Not Rebuild Credibility? #4  If you're right about risk-based lending, why not pause and reconfirm your view with the membership?

Yesterday was an interesting study in human character! That time honored phrase: "People Helping People" seems to have lost its' cachet with some folks. But in the prior posts, heard little objection to the statements that all members prefer lower loan rates and that SECU does not need risk-based lending to be financially successful - now or in the future. 

Let's try a couple of simple ideas today and see where we go. First, does anyone disagree that there is a fierce, honest difference of opinion about risk-based lending among the SECU membership? (Y/N?)  That that disagreement has been harmful to the reputation of SECU? (Y/N?) That given the wide divergent of views on the fairness and validity of risk-based lending that one side or the other - or perhaps both! - may have their facts wrong? (Y/N) That SECU might benefit from a pause in the further implementation of RBL to re-discuss and re-explain the value of RBL to the SECU membership? (Y/N?)

Why wouldn't the SECU Board and leadership agree to pause and re-discuss such a divisive issue with the member-owners of SECU? Wouldn't you, if you were a member of the SECU Board? (Y/N?) Was the message unclear from the membership to the SECU Board at the 2023 Annual Meeting? (Y/N) Will the message be different at the 2024 Annual Meeting, if the RBL issue is not resolved? (Y/N) 

If critics of risk-based lending are misguided, then take time to correct their reasoning. Where is the harm in that?  The current pursuit of risk-based lending without further discussion appears self-destructive. Has listening become dangerous? (Y/N?) Why rush into a potential, further disaster?

✅ And, just in case you hear some "blah-blah-blah" about "we must proceed", tiers/rates are in place, programming is complete, commitments have been made, "this train has left the station", etc, etc ... the typical you know what. 

😎 There is a simple answer to all that B.S.! If acting in good faith and maintaining the respect and trust of the membership is important to the SECU Board ....  the easy solution is ... ready, figured it out, it ain't that hard....