... risk-based lending for example!
SECU fears that SECU members will once again - as in 2023 - vote out the incumbents in favor of the member-nominated candidates who have much stronger hands-on, "in-the-trenches experience", and vastly more knowledge of the operations and purpose of SECU.
SECU, seemingly in desperation, is now attempting to promote the illusion that all of last years' member-nominated candidates are strong supporters of risk-based lending - "that spin" is purposefully deceptive and is untrue.
The truth is last year's member-nominated and member-elected board members were able to push through a reversal of the wildly unfair and punitive 5-tier RBL structure which had been approved by these incumbents.
The 3-tier RBL compromise created by the member-nominated, member-elected candidates not only revealed the inequity and poor management behind the 5-tier fiasco, but it also saved SECU members millions of dollars in unfair interest rate overcharges.
Compromises are not always perfect, but the member-nominated candidates you elected in 2023 made that difference.
✅ Now we need to give them help to finish the job!
❋❋ Click here to vote now! ❋❋
Vote for: the member-nominated candidates:
Q: Do you think the war on poverty is over?
A: Yes, and the poor lost. They should have quit while they were behind.
Amen, we need new blood, new ideas and open minds. 4 more!
ReplyDeleteYes, nothing says open minded to new ideas like these four individuals
DeleteWas trying to say there is only so much they can outwardly discuss their disagreement with the board. But even so we need these new board members on board to replace the ones that do not share the member’s views!!!!
ReplyDeleteBallots are beginning to land in Member mailboxes. As you read the biased descriptions, consider that they spend in the neighborhood of $3 million to print and mail these things, all in an effort to preserve their own spot on the "volunteer" board.
ReplyDeleteThis thing just continues to reek of shanigans.
Dont trust them.
You can make or break
ReplyDeleteCan win or lose
That's a chance you take
When the heat's on you
The heat is on
Oh, it's on the street ...
Caught up in the action, I've been looking out for you ...
The heat is on...
Tell me, can you feel it?
Tell me, can you feel it?
Tell me, can you feel it?
glenn frey ...
* 4 more in 24 *
Mandatory 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/
Got my vote in! Whether Ernest and Young will “misplace”’it—no clue! Wouldn’t be surprised after what I’ve read here. But I and all my neighbors have done our part!
ReplyDeleteBelieve you can trust the conduct of the vote.
Deletefrom last year ...
"No SECU board member or employee will have access to or be able to determine a member’s voting selection. ✅ Ernst & Young LLP (EY) and SECU have agreed that EY shall have sole and complete control over completed ballots in the voting platform or on paper and shall not relinquish control of such ballots or otherwise permit anyone from SECU to access such ballots or otherwise compromise the secrecy of completed members’ ballots.
✅ Additionally, only EY will possess information related to the number of ballots cast at any one point in time during the voting process up until the final results have been announced to the membership at the Annual Meeting. ✅ The independence of EY as election facilitator will be maintained throughout the election process"
What is this I’m reading that mortgages have been outsourced and sent to the cloud? Bring the decision making for our personal loans and mortgages back to the local branches!
ReplyDeleteCurrent SECU employee here. To be fair, there is still some local decision making going on for mortgages, but it’s changed drastically since when I was doing mortgages a few years ago. Firstly, everything is gearing up towards being able to sell our members’ mortgages to third parties. Sadly, SECU has spent millions on Mortagebot, BluePrint, and recently spent more millions on yet another mortgage program, again all for the sake of being “industry standard” so that we can start selling mortgages. Secondly, members are having to jump through way more hoops. Credit score requirements have been tightened, and LTV requirements have also been tightened. The very sad effect of this is that your average, hard working member has now just had stumbling blocks placed in front of them by what should be their trusted lender. To add insult to injury, SECU has made it easier for wealthy “a paper”borrowers to obtain mortgages. Branch employees can simply waive debt-to-income violations if a member has many assets. Lastly, member service during the application process and through servicing has taken a nosedive due to internal restructuring. Although a branch employee might take a member’s application, pretty much everything after that is outsourced to WFH employees in Raleigh (and per rumors even out-of- state). We’ve lost that local and personal touch, as members are having to track down an employee they’ve never even met. So to summarize, while we do still have local mortgage officers, all SECU seems to care about is how to make our mortgages “industry standard” so that we can start selling them ASAP. We are also hindering the ability of our core membership to obtain home loans while making it easier than ever for “tier A” borrowers. We used to be proud of our non conforming mortgages and our vehement opposition to selling our members’ mortgages. We need to make it local again, and need to stop caring about how we can profit by selling the mortgage on Mr. and Mrs. Member’s hard earned hours.
DeletePlease vote self-nominated!!!
This process will get revisited when we suddenly can’t compete and are not lending enough. Then it will a great idea to re-think and re-act…same for ticket-less - when mistakes get intolerable it will unwind until a new platform is ready or members requested tickets returned and we listen.
DeleteSECU is now outsourcing/selling mortgages? I've really been out of the loop. What a horrible decision!
DeleteThis is the STATE EMPLOYEES Credit Union! NOT the SOUTH EAST Credit Union.
ReplyDeletefor now .... unless ...
Delete* 4 more in 24 *
Regional expansion can go to hell
ReplyDelete