The real question may become who is "Them" ... the SECU Board, Alight, or the SECU retiree?
😎 Promise to get off this focus on SECU retiree health coverage, but it is important to many very important employees with whom I worked for years. And, those employees don't see it coming, because it has not been "officially" announced. Here's a brief outline of the apparent proposal and timeline: 1) Announce in June, 2024 [missed that one!], 2) some sort of "trust" will be established to off-load future responsibility and liability for SECU retiree healthcare, 3) a for-profit consultant, Alight, will manage and steer SECU retirees into a new healthcare plan, 4) SECU retirees and dependents will be under the new system on January 1, 2025 [in less than 6 months].
😎 1) Is the change the result of some new federal mandate? No, this is purely a change in SECU Board policy. 2) Why is this change being made? Don't know, but it would appear to be to control/cap future health care costs by the SECU Board. 3) What are the details of "the trust", who are the trustees, why is it necessary, are retirees represented? Don't know. No information has been released to retirees. 4) Who is Alight? What is their role? How were they chosen? Don't know. No information has been released. 5) Is there any requirement that this major change be rushed through in 2024? No.
✅ Given the high complexity of modern healthcare coverage and given the group of over 400+ highly dedicated employees and dependents this change will affect, why the rush by the SECU Board? Wouldn't a more measured, informed, fully transparent discussion with retirees be more appropriate with a target date of 2026?
✅ Not familiar with Alight [leadership team], nor has its role in this change been fully defined; but it appears to be a "middleman, broker, consultant" that will be paid by commission to help steer employees into a new plan. Here's one more good reason that waiting until 2026 for implementation might be warranted [you can read the complete FortuneWell article here]:
Excerpts: "The new clampdown, in Center for Medicare Services' 1,327-page final rule for Medicare effective in 2025,
states that it aims to “ensure that agent and broker compensation
reflect only the legitimate activities required by agents and brokers”
selling those plans"
"In addition, the rule says, Medicare middlemen known as third-party marketing organizations won’t be able to offer incentives that “inhibit an agent or broker’s ability to objectively assess and recommend the plan that is best suited to a potential enrollee’s needs.”
"The new rule also says it will stop brokers and agents from receiving “administrative fees” above Medicare’s fixed compensation caps. In most states, that cap has been $611 for new Medicare Advantage signups and $306 for renewals. Part D plans have had lower caps: $100 for initial enrollment and $50 for renewals."
“This won’t really address the issue of pushing people to Medicare Advantage,” says David Lipschutz, associate director of the Center for Medicare Advocacy. “What I think it will do is restrict or limit people from being steered toward one particular plan because that agent or broker is trying to get a particular bonus or other incentive.”
✅ Employee trust will be critical in such a highly sensitive transition... trust by the SECU staff is the one thing the SECU Board can't afford to lose.
... with healthcare patients might be a virtue.
This is the same Alight that has a 1star rating on Trustpilot.com.! The reviews on Trustpilot are HORRIBLE! These reviews are similar to the awful google reviews on UnifyHR, only worse! UnifyHR is the company SECU contracted with last fall to process retiree healthcare premiums. UnifyHR is pathetic. Who is vetting these companies? This is a rhetorical question because obviously no one is. Or worse yet,, if they are, they simply do not care.
ReplyDeleteIs this why HR sucks now and keeps trying to pressure VPs to take great employee schedules away?
DeleteThe SECU Board is vetting them and is responsible for hiring these guys. Just like the SECU Board "vetted" Jim Hayes, who was all in on the biggest Credit Union failure in the history of credit unions. The SECU Board can not be trusted to act in the best interest of the members. Appear to be actively pursuing policies that hurt retirees and current employees. Making decisions in haste without due consideration of consequences. Unfortunately the membership has to pick them off gradually. Three last year (unheard of!!!!). Four this year. Four next year. Let's roll.
DeleteTell me more about these schedules please?
DeleteThey are trying to bully the call center to remove the 4on4off schedule and just throw everyone back in the branches and do the traditional 5 day work week. The world is changing. This is where secu was ahead….employees LOVE the 4on4off schedule. But yet, HR does not like it. You talk to employees at other companies who work the traditional 5 day 9-5 are BURNED out and want more time off! The 4on4off schedule is a TRUE work life balance work schedule. The traditional 9-5 5 days a week is outdated and zaps up your life as a human being.
DeleteWait. We still have 4 on 4 off in mss? I miss that. I thought everyone in mss was on 3 12, 4 10 or 5 8s
DeleteRemember that the MSS contact centers used to have 4on4off - that was taken away when we started shift bidding. It is just a matter of time until that spreads to the other contact centers as well
DeleteMSS unfortunately took the first hit. They deserve their old schedules back. Shift bidding is just a way to get folks to quit
DeleteHR needs to f*** off and find something better to do than tamper with employees schedules and lives! What do y’all do in Raleigh all day? Just think of ways to make employees mad and get them to quit?
DeleteSo 2025 is their imposed deadline. Do we think it has to do with the loss in income from LGFCU leaving? or Overdraft fee regulation changes? Or maybe interchange fee restrictions? All the above? Either way there seems to be some significant cause of concern.
ReplyDeleteHow does that line up with record profits last year? This organization has always been stewards of the membership's money. It has always been a balance between the member and the membership. But cost cutting at the same time as record profits isn't the credit union way. This organization needs to go back to their roots and remember why you do what you do - it should always center on the member. Profit margins are not about the member. It is sad to watch this slow train wreck and the carnage that comes with it.
Us staff lost faith in this board a long time ago.
ReplyDeleteIf the Board and Leaders of SECU want to shave a benefit from retirees, I would gladly give up the box of free checks or reduced safe deposit box fee - but please, help me keep the out of pocket expense for health insurance down so I don’t have to re-enter the workforce to make ends meet.
ReplyDeleteMerit Funding information is out. Individuals can get between 0 and 15%. And if it pushes you out of your salary grade you get a lump sum. Sounds like the vacation pay scam. Guess who's getting the 15%.
DeleteVery irresponsible and misleading for HR to announce in a memo that merit will be allocated between 0-15%. The reality is that 99% of SECUs workforce will receive between 0-5%.
DeleteJust ask IT about 0-15….
DeleteSECU's workforce is not the "elite" group - the Elite Leighduhship Team (ELT). Bragging as usual. No shortage of that since the hazy mirror-mirror-on-the-wall peacock gymy waltzed in, bombastica got his fizzled upto gymy promotion and in turn brought in all of his cronies.
DeleteIt's all a pretense and eyewash. Like the green team back alive in the blink of an eye. Its all smoke and mirrors.
IT in general will not see above 5% either. It's all about ELT getting a nice lump sum payout.
Delete"The reality is that 99% of SECUs workforce will receive between 0-5%."
DeleteIt's been like this for years ... years ... most fell within the 3-4% range ... before runaway inflation it kept your head above water ... of course upper mgmt still cared about their employees ... can't really say that now (probably exceptions as always)
I’d like to know where the green team went for all these months and why we still had a VP for it if it didn’t exist.
DeleteIts 4% merit funding for agregate salaries within your departments/districts. Its always been up to manager to give the % raise between 0-15%. But they still can't go over the 4% allocated amount. It was a bit misleading because of the tranparency. But nothing new.
DeleteA financial institution like SECU should understand the importance of financial planning. They are setting a poor example by giving folks very little time to plan. Likely, they gave the lawyers much more time to contemplate these changes than they are giving dedicated long time employees.
ReplyDeleteIt's so obvious they do not care about members, current or retired employees. So much for do the right thing.
ReplyDeleteWhy can't they just honor their commitment to those who are already in the process or have already earned it and stop offering it to new employees. Make too much sense?
ReplyDeleteHow about keep offering it to new employees as well? It’s very selfish for the older employees to just want to leave the younger in the dust and out to dry. Very selfish. We should want this benefit to be in place for generations of secu employees. And this is coming from a branch VP.
DeleteWe all want this to be available to all employees. Guess the commenter said this in this sense: At least the new employees come inn knowing this and so can plan for it. But for those who came in believing this and stuck around, have no choice at all. Like how the new CSuite now walk in and get the max PTO and stuff, whereas everyone else, no matter who they were, all these years, had to work for it. The only way you get a good paycheck and benefits currently is if you are CSuite. Especially new.
Delete"When anyone asks me how I can best describe my experiences of nearly forty years at sea, I merely say uneventful. I have never been in an accident of any sort worth speaking about....I never saw a wreck and have never been wrecked, nor was I ever in any predicament that threatened to end in disaster of any sort."
ReplyDeleteEdward Smith
Captain of Titanic....
This is the kind of thing that flies under people's radar because when it's not you, it's not important. And, when it becomes you, it's all you can think about. You live and die by it.
ReplyDeleteyou retires are screwed ... 'thanks for helping but we'll take it from here' ....
ReplyDeleteso are you workers. so are the members for that matter. SECU Board and Management is untrustworthy and duplicitous. Why aren't the Board and Leigh Brady out there talking about what is going to happen to the retirement benefits in JANUARY?!!! What kind of retirement benefit will SHE get?? Bet it will be a whole lot more than $6000. let's have a look at the Csuite packages
DeleteThese guys all make a 6 figure paycheck. Brady is the highest paid employee. These guys don't think about us bottom feeders.
DeleteUsed to be a member was a member--all were treated fairly and with respect. Got the same loan rates too. Employees all got the same benefits package and it was a good one. Now? The SECU Board and Csuiters are changing retiree benefits willy nilly. Not honoring agreements of longstanding. They are screwing every one in the process!! Vote them out!
DeleteBrinson, Fleming, Williams and Wooten must be voted off the SECU Board to save the credit union.
7:42, not true at all. Brady has been at the organization for a long time and knows what is best for its members and employees.
Delete@11:34 ,you're being sarcastic correct? Either that or you have bumped your dang head
Delete11:34. If you are NOT sarcastic, you mean to say she's at the bottom rung of the ladder? Good joke. And she "knows what is best for its members and employees"? Lol. History stands.
Delete11:34, is that you Brady girl? Hiding behind "anonymous"? If the top gun in the organization doesn't make the top dollar, please enlighten me as to who does? Has been at the organization a long time? But what's the use? To run it into the ground? SECU cannot get back on track with this kind of mentality - burying your head in the sand and pretending everything is hunky dory and refusing to see what's going on.
DeleteEgo. Ego will do it. Refusing to back down and correct the mistakes. Dragging everyone and everything down instead. Never a success story in the history books when ego is in play.
DeleteGuess what retirees!!! You get to call or go into your local branch where you use to work and get to apply for a good ole RBL loan to be able to cover medical costs 🤗 We don’t cover your cost unless we loan it to you! Whoop whoop!
ReplyDeleteThis all have anything to do with moving away from using BCBSNC?
ReplyDeleteWhere's this place headed? They are tumbling down so fast in the race to the bottom.
DeleteAny word on who we’re getting to replace BCBS?
DeleteI'd bet on Atena
DeleteThese guys are tearing down this good institution. They won't leave leave it alone until it is stripped to the bare bones. And there are tons of consultancies circling around to line their pockets and do just this. Look at the choices these guys make every single time and the consultants they hire. Every single one of them. Nothing good ever cones out of all this.
ReplyDeletecircling like vultures ...
Deleteso this kind of treatment to the American workforce has been going on for a long time, we're just the latest casualty ... and it will continue ...
ReplyDeleteCorporations, CEOs, boards etc rarely ever care about their staff….America it’s time for a change. We don’t need to serve these people anymore! We need to serve each other and take back our workplaces!
DeleteThe current leighduhship can't think for themselves. They need to hire consultants, especially third rate ones, for every "SINGLE" decision they need to make.
ReplyDeleteIt is quite apparent to members that Leigh Brady does not have the skill set or ability to run a financial institution. It appears the SECU Board rubber stamps all her suggestions.
ReplyDeleteAnd the board is ill suited to make any wise decisions too. Hence the need for hiring consultants.
Deletethey are all onboard together ...
Delete@10:56 Not just wise decisions. ANY decisions. Why else is this place exploding with so many consultants and is top heavy? It's so sad see the direction SECU is headed.
Delete@8:50.. Yes, difficult job and circumstances to put a non-CEO in the role and she might not be up for it. I would add, though, that if all the board does is rubber stamp her decisions, then they also don't have the skill set, ability, or the recognition of their fiduciary duty to effectively govern a financial institution.
Delete10:27 PM ... me thinks they all do exactly as they are told ... these aren't dumb people just sell outs... and they knew the organization that oversees them would just look the other way...
Deletemoney and power corrupts, and we are getting a first hand look at that proverb...
Bob Brinson and McKinley Wooten certainly knew better than to hire Gym Hayes from outside. Those two SECU Board members have been the biggest disappointment and failure on the Board. What happened to them? How did they stop supporting the average person? The regular state employee--teacher, janitor, DOT employee, prison guard? The branch and call center employees at SECU? whatever are they thinking? why don't they tell what the reasoning is behind this destruction and disregard for all of us who live paycheck to paycheck?!
DeleteWhy does any of this surprise anyone at this point? The Board showed us what they thought of us and their intentions almost 3 years ago. Remember, none of them showed up to Mr. Lords retirement party, they didnt even bother to interview the most qualified candidates, they are on record as stating that incentivizing employees to stay long-term is the worst thing we can do, etc, etc, etc.
ReplyDeleteLeigh was behind all of that, she was in their ear for years but especially in the last six months. She was behind the removal of Chris Ayer and so many other high ranking officials. She was behind the Josh Bomba debacle and still supports that train wreck to this day. She kept Carl Seabrook which is completely baffling . Folks, this is the end of SECU and we knew it. At this point, most of us who havent been already will be forced out or liberated of our positions. I stayed loyal to SECU my entire career, even though there were better options elsewhere. The Board and Leigh showed their total dismissal of loyalty to me (us) through their actions, my response to them was to move all of my banking to another institution and seek employment elsewhere. No more deposits, no more interchange fees, no more loans, just a basic $25 share account. Just makes me feel better sticking it to them in my own little way.
Amen ...
Deletethey waited until ML retired and then they took over ... this was all planned ... pre-meditated takeover
DeleteWith some help from the whisper campaign by Leighduhship. But they didn't hire her first time around. Went for the "better" outside candidate. She was their second choice....
DeleteHR has gone full rogue. Most corrupt department we have
Delete@ 7:53 PM - They brought Jim in as the "Disrupter" (or Destroyer) knowing that she was waiting in the shadows. With the help of Cornerstone, he got everything in motion then handed it over to her. The only thing she has really done since then that wasnt in the playbook was to move Jamie A back downtown and formalize the dress code. Just wait until the next CEO when her contract is up, you wont recognize the place. Textbook corporate takeover.
Delete@9:38 This! This was all the plan to begin with. Jim's whole purpose was to turn everything upside down. They brought him in to disrupt and make a big giant mess so it would seem like a concession when they eventually got just what they wanted. It's like when you are a kid and you ask your parents for $100 when you really only need $20. After you negotiate down from $100, the $20 now sounds like a deal to mom and dad. They go from being annoyed about giving you $20 to being "happy" about it not being $100. Leigh's role was to say "trust me, I'm one of you and I'm going to fix it". Everyone was supposed to be happy the Board came back in-house and that she dialed Jim's nonsense back a notch. Except the Board didn't realize that no one actually trusts her, and the employees and members aren't dumb. Don't be fooled. She brought back Jamie A to lend herself an air of credibility, not because he's good for the employees and members (he actually is). He has to be in an impossible position now.
DeleteFormalize the dress code? Coulda fooled me! I've seen so change in how people dress in reality.
Delete"They go from being annoyed about giving you $20 to being "happy" about it not being $100."
Deleteif it were the Fed they would tell people they 'lost' $80 ... that's the game that's played ...
Amen to that and you speak the truth for many of us and the members who are finally catching on. As someone keeps saying 4 more in 24!
ReplyDeleteThe 5 clearest signs you can't trust someone
ReplyDelete1. They tend to change the details of a single story, depending on the circumstances
2. They don’t acknowledge their missteps or wrongdoings
3. They seem to be hiding a lot of ‘big’ things
4. You can’t count on them to do what they said they would
5. They give you a strange sense of anxiousness or unease
bottom line, I don't trust SECU ...
Certainly should not trust the current management and board.
Delete'a friend is one who stands with you in your time of need'
ReplyDeleteDo you think SECU is your friend?
There's takers and there are givers in the world... this current crew are takers ... and they are taking the members money ...
ReplyDeleteThe Medical Industrial Complex doesn't care one iota about your care ...
ReplyDeleteMaking the biggest profit ever! Most profitable two years! At a nonprofit?! Go figure
ReplyDeleteBragging about profits at a credit union is an oxymoron
Deletespoken just like a banker ... gives you insight into their thinking
DeleteAll I can think of to say- just when you think it could not get any worse. Correct me if I am wrong- I am a retiree that had almost 40 yrs- i cannot recall SECU making a policy change- either for employees or members that if it was to the detriment of many- there was always a "grandfathered in clause" or a -you can choose choice.
ReplyDeleteI hope someone from C-suite is reading this blog and in Leighs ear BUT doubt very seriously she even cares. She is such a disappointment from the standpoint I truly believe she conned a lot of people to gain her power and never believed in the values set before her. This is what you get when someone is promoted that has never worked in a branch and has a feel for what really goes on.
Grandfathering policies creates a tiered class system, which is inherently unfair to the population as a whole. Treat everyone the same, regardless of what each may think they are entitled to. Only former branch employees should be eligible for the CEO position, when the branches handle less than half of the actual interactions and transactions for SECU (think about how many funds are transferred online via in a branch each day, how many Billpays are set up and processed each day, etc)? Wow.
DeleteThe easy solution is to “just do the right thing” once again. Just give all your employees the same great equal benefits. There you go. That’s all you got to do. We give you our labor and time and energy. You take care of your staff with quality healthcare care and benefits and pay. That’s the deal. It shouldn’t be slanted to vary one party alone.
Delete@10:39 The problem with your statement about grandfathering is that if you don't do it, you either can't change things ever or you have to change the rules in the middle of the game. Neither is realistic. Grandfathering allows the people already playing to continue unaffected, while still allowing for future change. Your issue shouldn't be with grandfathering - it should be with whether the new rules are fair and reasonable for the group they will affect.
DeletePlan better. Good planning involves acknowledging all possible scenarios, not just those you expect to happen. Plan for the worst, hope for the best. Plan on shouldering the entire cost of your health coverage needs. Do everything you can to reduce your health coverage costs and to maximize savings for them. Hope you don’t actually have to bear the entire cost.
DeleteWho influences health care? ... it isn't the Doctors ... they are captured ... think big Pharma, insurance companies ... etc. Folks who don't really care about your wellness only $$$$$$$$$$$
ReplyDeleteBe your best advocate for yourself!
Assuming the Board doesn’t “do the right thing” and won’t shut down management’s consultant driven recommendations to screw over the current rule of 85 folks..….consider what a class action defense and high profile exposure will cost. It would be life altering for current retirees to lose coverages or hit caps….so worth fighting for it. It’s easy ….DO THE RIGHT THING.
ReplyDeleteAnd why would the ELT not oppose this shift to limit health benefits in retirement? Several should be nearing retirement? Do they have a different package?