Here's What One Of The New 2023 Member-Nominated Directors... had to say at the 2023 Annual Meeting about SECU transparency !
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Mr. Michael Clements
TRANSCRIPTION: [😎 Since you're not allowed to listen to the 2023 Annual Meeting video!]. Tuesday, October 10, 2023 - SECU Annual Meeting, Greensboro, N.C.
Remarks of Michael Clements: "Michael Clements, Winston-Salem: I have been a member of the State Employees' Credit Union since 1982 - that's 41 years. I have served on four Credit Union committees, including the SECU Foundation with several of the present board members. I have been proud of our work and our ability to say that at the North Carolina State Employees' Credit Union, unlike many other financial institutions, "We Put Members First". We believe in "People Helping People" and "Doing the Right Thing".
We created programs and support services that actually supported and encouraged the financial health of our members; and this philosophy was the driving force behind our incredible growth for 85 years.
We prided ourselves on our transparency. Yet last year at this meeting when we inadvertently learned of the many changes, which fundamentally recreated who we are; and in my opinion, fractured our former successful philosophy; I turned to the staff of my local branch at the table and asked them did they know about this? They stated they were told not to discuss it with members.
What happened to our transparency we were so proud of? Or the fact that all our members were equal from the state Governor to the state janitor?
Tier-based lending discriminates against many of our members and the fact that many other financial institutions use this policy is immaterial. We prided ourselves about not being like other financial institutions; we are not a bank.
State Treasurer Dale Folwell stated in the Winston-Salem Journal on Saturday that "an un-banked North Carolina is a sick North Carolina". My fellow members, we were not contributing to a "sick North Carolina". Our growth over the years and support of our members demonstrate that. These changes will put many of our members at a clear disadvantage. The loss of services like tax preparation and the loan review committee process are a disservice.
Is our new mission statement "People Helping High-Tier People"?** Or, when we say "Members First" are we talking about a specific group of members?
I ask you: Are we still "Doing the Right Thing"?"
[followed by wild applause - and his election!]
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** On September 18, 2024 the Federal Reserve lowered market interest rates by 1/2%.
Doesn't that look like discrimination to you?
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As Mr. Clements asked the SECU Board in 2023: "Is our new mission statement "People Helping High-Tier People"?
❋❋ Click here to vote now! ❋❋
SECU needs... 4 more in '24!!!
Jean Blaine, Susie Ford, Julian Hawes, and Kirby Parrish.
