Monday, November 27, 2023

SECU - Members Look Forward to New 2024 SECU Strategic Plan... And Performance Results For 2023!

 😎 Holiday is over; we've gotta get back to work, but first...   

The SECU Board and CEO were super-pumped about their 2023 SECU Strategic Plan last year [link] - not sure why. But that CEO has departed, and the SECU Board is in the midst of change. It will be interesting to see and compare the new 2024 SECU Strategic plan with the results of the 2023 Strategic Plan. If you'd like a little head start, here's what the SECU Board planned to offer the membership in the 2023 Plan:

"Our goal is to provide an exceptional member experience and financial value through competitive products and convenient services. SECU members will benefit from this value through multiple offerings, such as:  

1) Below-market fees  

2) Lower credit card rates and fees  

3) New card offerings, including points and cash rewards with best-in-class features

4) 100% savings on services such as free notary 

5) Broad ATM network for convenient access   

6) At-market share savings rates"

✅... think it's fair to say that SECU has in the past had "below-market fees" and that the size of the Cashpoints ATM network actually shrank in 2023. Will let you be the judge on "the lower credit card rate/fees" and "best-in-class" features.

... and #6 is definitely a move backwards toward "industry standard". The SECU Board's goal is now "at market" rather than "above market". Haven't seemed to be able to achieve either one in 2023... 


  ... still laughing about #4, the "100% savings on free notary service ?!?". How does that work exactly? 

[Best I recollect, its always been free.]