.... some commenters been having some concerns:
... but it's the weekend so relax... it'll be there Monday!
Friday, May 31, 2024
Fear, Change, And Career "Path(os)" At SECU... Dilbert Speaks Out!
Thursday, May 30, 2024
SECU Is A Member-Owned Cooperative: Thought About Joining The Board?
... like how the current SECU "strategy" is working for you? [link]
If you're an SECU member, over 18 years old, and willing to serve; you're eligible and qualified to serve on the SECU Board!
👉 But you need to request an application and return it by next Friday, June 7, 2024. Here's how:
✅ 2. Candidate Information. Members may email the Assistant Corporate Secretary at board.corporate.secretary@ncsecu.org to request a State Employees’ Credit Union (SECU) Director Candidate Questionnaire, Certification of Information, Notification and Authorization Form for Employment Consumer Report, Certification of Candidacy and Willingness to Serve, and Applicant Voluntary Self-Identification (together, the “Candidate Package”) and submit them to SECU by the deadline in the current year Election Procedures Schedule for forwarding to the Chair of the Nominating Committee. [complete details here]
✅ Deadline for receipt by the Corporate Secretary of SECU of the
Candidate Package from interested candidates is June 7, 2024.
Stop being bashful! You can do it! We could do a whole lot worst... and have!
Saturday, May 25, 2024
SECU Risk-Based Lending Stats: A Myth Is As Good As A Mile...
... Mythical figures?
"Myth" is often defined as any SECU Loan Administration belief that has no basis in fact - or any false story
1) 😄 SECU is not lending to "A-paper " borrowers:
.... ! @ $9 billion in outstanding loans to A-score members.
2) 😄 With RBL our loan losses and delinquency will be much lower:
● SECU 60+ day delinquency on March, 2023 Call Report was ⬆$470 million.
● SECU 60+ day delinquency on March, 2024 Call Report was ⬆$700 million.
● Loan losses for 3/2023 to 3/2024 - ⬆ over $200+ million. (by far, highest ever!)
3) 😄 With RBL , we'll have the best rates for "A-paper" folks:
● as of May 25, 2024:
● SECU's current "best", A-paper, 60 month new car rate is 6.00%.
● 
Fixed rates 60 months - New car (dealer) rate ⬆ 5.94%. (extra .5% discount available)
4) 😄 RBL will greatly increase our "dismal" total loan to assets ratio:
SECU (dead heat!) 3/23 6/23 9/23 12/23 3/24
5) 😄 RBL doesn't discriminate against SECU members:
● Average score black folks : 677 (SECU "B" paper) ⬆ will be smacked by SECU with higher rates!
● Average credit score for folks in 20's: 660 (SECU "B" paper) ⬆ smacked!
● Average credit score female folks: 708 (SECU "B" paper) ⬆ smacked!
● New borrowers ("no score") - just starting out in life - will be given worst "C" paper rate! ⬆⬆⬆... gob-smacked!
... but that's all 😄 Greek to me! How about you?
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