Friday, March 15, 2024

The North Carolina Credit Union Division Responds - Definitive Circularity?

 ... Esse Quam Videri?

Ms. Kristina Ray, Administrator, North Carolina Credit Union Division

cc: North Carolina Credit Union Commission

Dear Ms. Ray:

Thank you for your prompt response to our letter of March 11, 2024 [link]. In your response, all you provided was a copy of your September 18, 2023 letter which simply said:

 "As part of our investigation, the Division reviewed SECU's response and other information deemed necessary for reaching a determination.  Based on the review, the Division finds no apparent violation of law or rule under our authority by SECU; therefore we are closing your complaint."

We of course already had a copy of that letter, too. We are left with the highly implausible situation where you will not provide us with a copy of "our complaint", which you filed on our behalf. So, we remain in the dark about what you advised SECU, we were "complaining" about! Why will you not provide us with a copy of "our complaint"?

Without knowing what it is in our complaint, it is impossible to evaluate "the results" of your investigation, including the "other information deemed necessary for reaching a determination." (see above). Your opaqueness is not strengthening anyone's faith in our State government!

Again, this discussion began last July - nine months ago -  with concerns by SECU members over changes in election procedures and bylaws approved by the Credit Union Division. Those concerns are real, as you witnessed firsthand at the 2023 SECU Annual Meeting - when the SECU membership voted out all incumbent board members. The internal controversy continues as another election cycle approaches.

To accentuate the sense of urgency, the SECU Board has just announced additional plans to change SECU election procedures for the 2024 election cycle [see info here]. Perhaps the SECU Board plans to correct the failures of last year - which you have "determined" did not occur? But, probably not.

That one explicit, dangerous illegality which did occur in the 2023 SECU election cycle, was that the SECU Nominating Committee refused to permit a qualified, eligible SECU member to seek self-nomination as a candidate for the SECU Board. 

That refusal is unquestionably illegal under the SECU Bylaws, North Carolina Credit Union laws, and under the Federal Credit Union Act.

Ms. Ray, did your "determination" disagree with the above statement? Have you determined that North Carolina credit unions may deny eligible, qualified members the right to seek self, member nomination to serve as a credit union board?

Hope you will promptly respond to that simple question. Time is now truly of the essence. Much is at stake for the 3 million+ credit union members in North Carolina. 

Thank you.


Jean and Jim Blaine

March 15, 2024

... anybody read "The Trial" by Franz Kafka?