Monday, March 11, 2024

The North Carolina Credit Union Division: What's The "Hold Up"?

... Esse Quam Videri

To: Ms. Kristina Ray

Administrator, North Carolina Credit Union Division

Dear Ms. Ray,

Thank you for your March 6, 2024 response to our letter of February 29, 2024, requesting a copy of the complaint, which you filed on our behalf with SECU in August, 2023.

In response, you provided two informational letters dated July 11, 2023  and August 11, 2023 which we had sent to you. Thank you, but we already had those two letters.

We would again request a copy of the full complaint which you filed on our behalf - described by SECU as  "... the correspondence and other information (the "Complaint") you provided...". It seems reasonable to ask you for  a complete copy of  "our complaint".

This process is now in its ninth month, which seems excessive. We are also approaching an April 9, 2024 deadline for the next meeting of the North Carolina Credit Union Commission, without clear answers from you on these issues.

On September 1, 2023 you sent a letter acknowledging receipt of the August 28, 2023 response from SECU. In your letter you stated: "We are reviewing SECU's response as part of our investigation."

Ms. Ray, if you are unwilling to provide a complete copy of "our complaint", would you please provide us - and all SECU members - at least with the results and final determination of your investigation?  We can not find any record of your decision.

Ms. Ray, perhaps we should point out more clearly that "our complaint" was more about the Credit Union Division's lack of enforcement of the law, than any violation of the law by the Credit Union.

We remain convinced that the Administrator's required, statutory approval of all credit union bylaw amendments has not been properly upheld.  But, over the last nine months, we have not been able to get a firm answer from you on "our complaint" over this lapse in supervision.

We again ask and hope for your prompt, definitive response.

Jean and Jim Blaine
March 11, 2024