Monday, March 11, 2024

The North Carolina Credit Union Division: What's The "Hold Up"?

... Esse Quam Videri

To: Ms. Kristina Ray

Administrator, North Carolina Credit Union Division

Dear Ms. Ray,

Thank you for your March 6, 2024 response to our letter of February 29, 2024, requesting a copy of the complaint, which you filed on our behalf with SECU in August, 2023.

In response, you provided two informational letters dated July 11, 2023  and August 11, 2023 which we had sent to you. Thank you, but we already had those two letters.

We would again request a copy of the full complaint which you filed on our behalf - described by SECU as  "... the correspondence and other information (the "Complaint") you provided...". It seems reasonable to ask you for  a complete copy of  "our complaint".

This process is now in its ninth month, which seems excessive. We are also approaching an April 9, 2024 deadline for the next meeting of the North Carolina Credit Union Commission, without clear answers from you on these issues.

On September 1, 2023 you sent a letter acknowledging receipt of the August 28, 2023 response from SECU. In your letter you stated: "We are reviewing SECU's response as part of our investigation."

Ms. Ray, if you are unwilling to provide a complete copy of "our complaint", would you please provide us - and all SECU members - at least with the results and final determination of your investigation?  We can not find any record of your decision.

Ms. Ray, perhaps we should point out more clearly that "our complaint" was more about the Credit Union Division's lack of enforcement of the law, than any violation of the law by the Credit Union.

We remain convinced that the Administrator's required, statutory approval of all credit union bylaw amendments has not been properly upheld.  But, over the last nine months, we have not been able to get a firm answer from you on "our complaint" over this lapse in supervision.

We again ask and hope for your prompt, definitive response.

Sincerely,
Jean and Jim Blaine
March 11, 2024



 

11 comments:

  1. By the way, I got a preview of the proposed career path changes last Friday. Wow. If they go through with that, I kid you not, they're going to have every single branch and MSS employee voting out the board in October. Like it won't even be close. It'll 100% guarantee their removal.

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    1. It’s a joke what they are proposing for MSS and branch. They are really banking on AI to take them to the promised land, but it won’t. This is a people’s credit union which they have failed to understand.

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    2. Is Sr fsr the highest in the mss path?

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    3. Sure wish you'd throw us a crumb of what to expect. Branch employee here and WILL be casting a vote to get rid of the 4 Legacy Board members! We need to take OUR credit union back - the membership depends on us!

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    4. This tells you all you need to know. Real issues won’t that affect members won’t motivate employees but affect their jobs and they’ll come out swinging? Sad.

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    5. When will we ever know what this career path looks like? It’s overdue for a debut by over a year.

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  2. It seems they only respond when an attorney is on the other end. So sad ...

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  3. Industry standard is crap.

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  4. 4 more in '24 is the only way!!!

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    1. #TEAMTAKEBACKOURSECU!

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    2. Leigh- why not come out with it at this point? Can’t figure it out? Need another 10 Executives to look at it? How about a consulting firm? What are you hiding? How about that comp study, will it be re-done? Throwing more collections on branch staff and MLOs. Do everyone a favor and resign.

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