Rogue, adjective - disposed to or engaged in defiance of established authority or principles.
Led by the incumbents, the SECU Board has changed the rules for the 2024 Annual Meeting to prohibit members from asking questions from the floor. That little bit of inanity should not come as a surprise, given SECU's current "We listen, but you can't speak!" leadership; but it has created a firestorm of comments nationwide.
One comment on the censorship of the SECU membership, which really caught my attention was from Dr. Tony Plath, a recently retired finance professor at UNC-Charlotte.
Dr. Plath said: "I’ve been to
literally hundreds of publicly held bank annual meetings over the last
40 years, and I’ve never been to ONE that didn’t permit extemporaneous
shareholder questions during the meeting."
If you're not familiar with Dr. Plath, here's how one knowledgeable journalist views him: "The
most quoted "academic expert" in the history of N.C. banking and credit
unions - by a factor of at least 20...". An exceptional reference coming from those often hardened and cynical media mavens!
😎 So, I contacted Dr. Plath to request permission to publish his comment on the SECU Board's censorship. Here was his response:
"You’re on the side of the organizational owners (your depositors), after all, and that’s the right place to be, and the right thing to do."
"And of course I stand with you."
✅ Free speech, means the free, public expression of opinions without censorship.
❋❋ Click here to vote now! ❋❋
Jean Blaine - Susie Ford - Julian Hawes - Kirby Parrish
... regret that free speech is such an "inconvenience" for the incumbents.
“When E.F. Hutton talks, people listen” is now ...
ReplyDelete“When Dr. Plath talks, people listen"
* 4 more in 24 *
This blog post is very important and readers should take note. I'd like to piggy back Mr. Blaine and Dr. Plath to explain the repercussions of having a BOD (leaders) who are unwilling to listen. It sets a precedent that this type of behavior is ok and it produces a trickle down effect. Executive Management has already adopted this mindset following the lead of the BOD. Any logical thought or rational discussion is frowned upon if it dosent support their agenda. If you are a lower level employee and question the direction of our organization, it's immediately categorized as insubordination. It's a "kiss the ring or else" mentality. Why is this so dangerous? Because it's starting to infiltrate the levels below Executive Management. It will only be a matter of time before it trickles down to the membership. It's time for a change at the top before it's too late.
ReplyDeleteThose who don't agree with the BS are leaving ...
Deleteyou will soon have nobody who will push back and everyone will just 'go along to get along!'
But why leave? You won’t find another better workplace. What the board wants secu to be is what every other corporation already is. Hire/fire work environments. Profit motivated. Top down management. Just stay here and fight instead of hopping over to another corporation who really don’t give a s*** about you. You’ll have no power and no voice taking your talent to Wells Fargo or Bank of America. You’ll just be a number there.
DeleteThe BOD has shown they are not interested in listening to the membership. This is supported by the fact that they have essentially ignored that three of them were voted off the board last year. Didnt even stop to reflect why. It's been full steam ahead for the past year.
DeleteJean Blaine - Susie Ford - Julian Hawes - Kirby Parrish
ReplyDeletejust got my vote ....
* 4 more in 24. *
I got my ballot in the mail today. Went straight into the recycle bin. Already voted online.
ReplyDeleteSoooo much wasted money because they were trying to get more votes 😢
DeleteCompletely crazy for a cooperative.
ReplyDeleteWith the current Board and C-Suite management team we have now gone from Member Owners with a voice at our Annual Owners Meeting to just customers with no voice other than a suggestion box to make comments or questions which can be cherry picked. Vote Blaine, Ford, Hawes and Parrish to restore your voice as a Member Owner!
ReplyDeletethe ONLY way a member can ask a question this year is to register to attend the Annual Meeting. No other way to submit the ONE question your Royal Highness has permitted you to ask.
DeleteMandatory reading by all member/owners (only if you care about SECU)
ReplyDeletehttps://chipfilson.com/2024/09/lookback-the-rest-of-the-story-of-post-office-cus-merger-with-penfed/
mail ballots are helping to spread the word. members are asking who to vote for. when they hear about the mess it's 4 more in 24 whole family.
ReplyDeletePathetic and sad when Bank of America is a unicorn who appears to care about their staff.
ReplyDeletehttps://www.npr.org/2024/09/10/nx-s1-5106884/bank-of-america-raises-hourly-pay-tellers-flee-banking
Bank of America is pledging to pay its bank tellers and other hourly workers at least $24 per hour starting in October.
The company says that this pay raise, from $23 per hour currently, will affect “thousands” of its 212,000 employees. The wage increase will particularly affect tellers and other customer-facing employees, such as call-center workers.
We need to pack their bags, something is seiously wrong with this board. 4 more in '24
ReplyDelete