... In A Loop?
✅ How the Executive Leadership (ELT🔆) Team Explains RBL!
🔆 Until the Board introduced RBL, SECU "A-paper" borrowers were going elsewhere for their loans. 😎 Why?
🔆 Because our loan rates were way too high, we were not competitive. Everybody knew it! 😎 Why were you charging non-competitive loan rates?
🔆 We were trying to help members who never repay their loans. 😎 Why would you do that?
🔆 Beats me, I think it was CEO Mike Lord's fault. 😎 How did RBL fix all that?
🔆 The Board lowered loan rates for A-borrowers and raised them for all the other SECU members. 😎 Did charging a fair, competitive interest rate increase loans?
🔆 Oh yes, when you charge a fair, competitive loan rate, members immediately notice! Loans have really taken off since RBL! 😎 What would have happened if the Board had simply lowered the loan rate for every SECU member?
🔆 Why on earth would you do that? What's your point? 😎 Would loans "have really taken off" if the Board had chosen to just charge that same, lower, fair rate to all SECU members?
🔆 Well of course they would have, but you don't understand - that's not RBL! 😎 Oh...
[😎 Bonus Question: What will the "A-paper" savers do if you're not paying fair, competitive interest rates on member deposits? 🔆 That's not my problem, you'll have to ask the Board...]
Fruit loop logic... unbelievable!
'small things are the big things'
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The board didn't have to scew any member, they just wanted to.
ReplyDeleteLeigh and LA should stop trying to blame this on the board
ReplyDeleteIt IS the board who sets the policies. Leigh and LA may implement it incompetently but the Board sets policy! The Board is all for RBL! Agree that Poor Leigh can not run a credit union as well as most "industry standard" CEOs do.
DeleteBelieving in RBL is basically believing in flat earth at this point.
ReplyDeleteThe 3 new directors at least made the board admit its mistake and move back toward fair rates for all of us
Deleteyes, but still need 1 tier not 3
DeleteFairer. Fair would be everyone has same rate as A.
DeleteThe board is weird
DeleteLife isn’t fair. Most people believe it or not worked hard to get where that at.
DeleteTell that to the previous ceo who got 6 million and never ran a loan application or helped a member…that’s the easiest 6 million you could earn. This is the case for many CEOs in the USA meanwhile the mother of 3 working 3 jobs gets scraps…
DeleteThe members that call in and have 5 dollars in their account work harder than our ceo and many others across the United States. Most have 2-3 jobs while raising kids….meanwhile we have CEOs just walking into a building and getting handed 6 million. Pointing fingers at your equal meanwhile the ones above rack in all the wealth with no hard work at all….
Delete@7:11 some are just born into though. Imagine being African American in the the early 1900’s…good luck with success when the system is completely set against you during Jim Crow. Some are just born with better chances and some are not.
DeletelIfe iSnT fAiR
DeleteThat 6 million is a slap in the face to every hard working secu employee. You really think Leigh Brady or Jim hayes is working harder than the teller at a busy branch in Charlotte? Ummm no. Money doesn’t equal hardwork. 🤣 especially in the United States. Billionaires never crack a sweat. Ms. Brady is currently doing road shows trying to save the boards ass while you actually do the work….whose working hard again? The working class employees or the exploiters with fancy job titles?
Delete@7:11 ok boomer
DeleteSome people work hard their whole career just for a company to lay them off to make the bottom line look better 🤡
DeletePeople that own the means of production aren’t working hard. They just simply own it and employ people who do the actual work. Owning production is like owning factories, oil, mines etc. The owners of the production are not in the coal mines doing the work…that’s the employees. The employees are working for scrapes meanwhile the owners of said production are collecting the profits. This isn’t hard. Now apply that logic to secu. The workers aka the tellers, loan officers and internal departments are doing the actual work that Carries secu meanwhile the board and brady ride around and do road shows and give out 6 million dollar deals…
Delete@5:06 and to piggyback off that point. This is why SECU is UNIQUE because it is COLLECTIVELY owned by employees and members. We are not ceo and board owned like Leigh wants people to believe. They want this workplace to be undemocratized so the members and employees voices no longer matter and we basically turn into allegacy. They want this place to like Allegacy essentially. That’s why they want to take SECU regional. It will eliminate the co-op
Deletewww.secuforall.com
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