Wednesday, August 21, 2024

SECU: The "New" Wachovia? The Undisciplined Pursuit Of Profit Wthout a Purpose...

 

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  Wachovia was the real thing...  

(... a unicorn,  the industry standard, not a wannabe!)

"Once upon a time"... but not too long ago, most everyone in finance agreed that Wachovia Bank & Trust  - headquartered in Winston-Salem - was the premier bank in the U.S. of A. 

Wachovia's reputation was sterling, its financial practices impeccable, its ethical principles unquestioned.  Wachovia pledged high quality, local service from a dedicated "Personal Banker" to its customers - and delivered it!

Home-grown talent - thoroughly trained, hands-on leadership, community focused, an earned reputation for offering principled advice and intrinsic value in all services. The owners of many small, local banks across the Southeast sent their sons and daughters - their future leaders - to learn the banking trade as apprentices with Wachovia. 

There were several other very prominent banking "brands" in North Carolina - NCNB, First Union, BB&T, First Citizens - but Wachovia was foremost. 

✅ But then, Wachovia's board and leadership lost it's way - they forgot what they had,  they forgot who they were...

https://i0.wp.com/readingraphics.com/uploads/2017/05/How-the-Mighty-Fall_5-Stages-of-Decline.png?ssl=1 

... next chance, drop by your local Wachovia branch and ask the employees what happened.  

😎 Yep, that's right, you can't find a Wachovia branch anywhere in North Carolina... Wachovia has become Wells Fargo... take note!

https://secuforall.com/

 

"The best prophet of the future is often the past."

 

17 comments:

  1. I know this story... my wife worked for First Union and then Wachovia and then WF... what started as great, ended in a DISASTER!!!! Boards and CEO's matter ... they give direction and policy ...
    Greed and power ... absolutely corrupts!!!

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  2. When is Leigh and the gang going to wise up and bring every call center associate back on site? Working from home with zero oversight. Who's to stop a representative from simply snapping pics on their phone of every single member's personal information and account details?

    Not to mention the lack of productivity and professionalism. I've called twice recently and been able to hear music and/or screeching children in the background. And wait times to speak to an associate were NEVER this long a few years ago.

    I could call whenever I needed to and have a representative on the line within a minute. Very disappointing.

    Having all associates on site at the office was working perfectly fine for the first 80+ years...

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    1. They would have tobput them back in the branches if they wanted them back in the offices. They're are lots of cc employees not near their assign offices once they transferred ownership to the big cc.

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    2. So make employees drive an hour to the nearest location just to do a job they can easily do at home? I can tell this person doesn’t work in the call center. Our calls are recorded and we get them reviewed and listened to…branches literally have zero monitoring and yalls calls do not get recorded. This pointing fingers at departments is just lazy and pathetic at this point

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    3. Zero oversight? I can tell you don’t work in the call center. Branches don’t even have their calls recorded. What are you talking about? Branches half the time throw their members at us to finish auto loans when it could have been finished at the branch when they came to the branch in the first place

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    4. The reason wait times are so long is because we don’t hire anyone… we have been short staffed for 3 years

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    5. I feel like the comment @11:00am is coming from an executive to stir trouble

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    6. What's to stop them from snapping pictures when they are in the office if that's what they want to do?

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    7. There's a new five-story building in greensboro. From what I understand it's not even half full.

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    8. Surely you can understand that it would be much more difficult for representatives to snap pictures of member profiles while on the call center floor? And no, I'm not an "executive". Just a concerned member. Is member feedback considered irrelevant these days?

      I understand why WFH was necessary during the pandemic but those days are behind us, thankfully. It's time for SECU to get back to its roots.

      Also, what's the point of having all these big call center buildings sit empty? What's the point of giving call center associates a stipend to buy uniform items when they never go into the office? Is this a good use of member resources?

      I am not stirring trouble. Just asking questions and offering my thoughts.

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    9. Be careful this company does not like solid, logical questions. No push back, full steam ahead. I wonder at times if any upper management ever pushes back? Surely you cannot think a bunch of yes men around you is a good thing?

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    10. To the 7:24 AM commitment… I have worked in a branch for nearly two decades and I can assure you without any doubt I have closed more loans started by the call center than you have closed of mine. So chill. And while you may think you have a tough job, how many times has your call center been robbed? How many times has gunfire gone off in your office? Bet I got you on that too!

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    11. While there has always been some tension between contact center/branch employees, I think it's worse now due to all the stress/low morale. Please let's not get wrapped up in who does what and let Poor Leigh and the Fab 8 see that they are causing a collapse. Our primary goal is to take back OUR SECU, right?!?! Get branches back to normal! Get contact centers adequately staffed! Get board members & a CEO worth a d@mn so we can get back to being THE best at what we do - SERVING OUR MEMEBERSHIP and treating them FAIRLY!

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  3. As someone already said, Leigh doesn't know what to do. Look at the mess.

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    Replies
    1. Let's nominate a new CEO while we wait for our ballots!

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  4. Well Industry Standard has claimed another casualty ...
    Thanks Board of Directors!

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  5. www.secuforall.com

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