... get down to brass tacks!
Been dawdling for a few months on less important issues, but now the season is at hand to address the fundamental, critical concern - SECU governance, your rights as a member owner of the credit union. As a member you need to know what you have already lost and to understand what you may well lose in the future. It's important to you!
Before we launch in earnest, lets go back and revisit yesterday's post [link]. Why? Because the excerpt below from the "Chief Legal Officer/General Counsel" is an excellent example of the misdirection and lack of transparency which have plagued SECU in "recent" years.
❋ According to Ms. Cathleen Plaut: " ... the rules for recent Annual Meetings have permitted members the opportunity to speak or submit questions - but there was no process to allow members to introduce resolutions for consideration at the Annual Meeting."
"Recent Years" Member May Speak Member Resolutions
2022 Fully Permitted Fully Permitted
2023 Restricted Restricted
2024 Prohibited Restricted
2025 ? Prohibited
Hope it goes without saying that resolutions and participation by SECU members were fully permitted and welcomed from 1937 until 2023.
With Ms. Plaut's latest proclamation, no resolutions will now be "permitted" at the 2025 SECU Annual Meeting. Ms. Plaut would have been more transparent and genuine to have stated succinctly that SECU members have been "prohibited" in recent years from speaking at or presenting resolutions to the SECU Annual Meeting.
😎 SECU "Newspeak"? First we had the "no formal proposal proposal", now we have the "new/new" Annual Meeting "recently permitted prohibitions"!
Our "new/new" democratic cooperative?
Why is the Board and management afraid of the members they claim to represent?
ReplyDeletethe 64 billion dollar question ...
Delete
ReplyDeleteCan someone explain in tangible terms why not being allowed to speak matters.
Cant believe this question is even being asked....but here's your answer: When members don't speak (espicially if they're prohibited), bad things can happen. Need a "tangible" example? Ask any LGFCU member how things are going recently. Better yet, go check out Civic Federal CU's Google reviews. Most LGFCU members realize they are now "speaking up" too late.
DeleteMembers brought resolutions in 2022 and spoke in 2023. Tell me, what bad thing did those acts prevent? Even better, what good changes did those acts create?
Delete@11:29 They didn't prevent much of anything because the Board wasn't really willing to listen. However, in terms of good, they brought awareness to the issues that existed so that members could consider them and so that they might understand why they noticed service suffering. And members speaking contributed to the election of some new directors - an indication that there is perhaps more than a few people who think a different type of change is needed. Without the ability for members to speak, the membership is presented with only the limited information that leadership thinks will serve their plans or purposes.
DeleteSilencing members turns a cooperative into a closed system, disconnecting it from the people it exists to serve.
DeleteWhen members can't speak in a credit union, decisions may not reflect their needs, leadership lacks accountability, and valuable ideas are lost. This leads to member disengagement, loss of trust, and the credit union drifting from its core mission as a cooperative serving its members.
DeleteMembers participate by voting for directors. Why is it important that members be able to speak and bring resolutions?
ReplyDeleteBecause this loud minority of members is upset they aren’t getting what they want and think they know best for everyone else.
DeleteTo 9:59 and 10:00 - Of course it matters. Have you all ever heard of the cooperative principles of credit unions? Based on these comments, I don't think you have. As a credit union person, it's really important.
DeleteYou say of course it matters. I am asking specifically how it matters if they speak at the annual meeting? What purpose does it serve? What does the coop gain from it? How does it matter? Just cuz?
Delete11:35 is asking an unbelievably stupid question. Given this kind of thinking, it's no wonder that the BOD and senior management team are making such terrible decisions.
Delete@11:35 It helped to publically expose what employees already knew this rogue board was doing to our beloved Credit Union. (Which explains their need to quiet the crowd).
DeleteMembers must be able to speak and bring resolutions in a credit union because it ensures democratic control, transparency, and member-driven decision-making. As owners, members have the right to influence policies, hold leadership accountable, and ensure the credit union serves their collective interests. This active participation strengthens trust, encourages innovation, and keeps the credit union focused on its mission.
DeleteUnbelievable questions (9:59 and 10am). So, are you asking why a shareholder of this cooperative doesn't just sit down and shut up? We are SECU member-owners. BOD serve us. They don't own SECU. Until this regime, SECU has never not allowed members to speak - grievances or praise - at the Annual Membership Meeting or through Tell Us About It. When the new leadership took over, they only allowed "yes" men and women. How can you trust that kind of leadership? (Mr B you can delete this if you don't think it is appropriate.)
ReplyDelete“In any organization the permanent officials will gradually obtain such influence that its day-to-day program will increasingly reflect their interests rather than its own stated philosophy.”
ReplyDeleteRobert Michel’s Iron Law of Oligarchy
It is important that members be able to speak and bring resolutions in a credit union because of the fundamental cooperative and democratic principles that credit unions are built upon.
ReplyDelete