Friday, May 31, 2024

Fear, Change, And Career "Path(os)" At SECU... Dilbert Speaks Out!

 .... some commenters been having some concerns:


... but it's the weekend so relax... it'll be there Monday!

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 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%. 

Bank of America Logo  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?