Monday, April 15, 2024

"Government Of The People, By The People, For The People...?"  

                ... our democracy in action.

✅ Question of the day: "Which is more fun: 1) Reading more about the tortured antics over at the N.C. Credit Union Division or 2) doing your taxes?" I agree, but before you rush off...

Here's a brief article which gives you a summary of the plot so far [link to CUToday story] to help you keep up. Don't despair, more to follow.  As they say, there are only three certainties in life: death, taxes, and the search for a straight answer from the NCCUD.

Would like to make one side note. Last election cycle at SECU, almost a dozen members submitted their application to the SECU Board Nominating Committee for consideration. The "application" runs @ 20 pages and is well designed to discourage. The Nominating Committee offered interviews for each applicant also. As it worked out, the Nominating Committee selected the 3 incumbent board members as its slate as "most qualified".  At the Annual Meeting the SECU membership said "uh-uh" and sent those 3 packing. 

The principal concern with the NCCUD centers on the request to the Nominating Committee by SECU member Ms. Susie Ford to seek election, after she saw that the incumbents were the preferred slate. Ms. Ford was denied the opportunity to run [see that denial here] although she was a well-qualified member.  

The question the Administrator and the Credit Union Commission keep trying to purple duck is whether any N.C. state-chartered credit union can deny an eligible, qualified member the right to seek a board seat?

As simple as that... no complaint, no intrigue, no twisted legal zig or zag, no bob or weave. The NCCUD will end up answering that question to the citizens of North Carolina and our 3 million+ credit union members. You can count on that, but evidently more embarrassment and erosion of credibility is required.

Seems like 2024 may be the year folks decide whether our credit unions, our regulators, our democracy are working as designed - for the people... or for some other purpose?

... as of last week the North Carolina Credit Union Division doesn't appear to know the answer!