.... Looney Tunes?
😎 Commenter: Anonymous May 1, 2025 at 9:01 AM
"I get the problems with H.187 and that pushing for it is asking for trouble right now, but why is there sudden concern over federal taxation? I don't remember the CEO of SECU ever having to send an email to everyone about that. What changed?"
✅ The Brookings Institution is a well-regarded, Washington, D.C. - based "think tank" which conducts research on a wide range of political, social, and economic issues. They conducted a webinar this morning on credit union issues!
Thought the best answer for the commenter is to let you take a look for yourself at the many concerns credit unions are facing. You'll hear about the firing of two NCUA board members, lack of transparency, abusive overdrafts, purchases of banks by credit unions, off-mission marketing/naming rights, weak leadership by CU trade associations, mergers, insider dealings, taxation, and the waning of political support as credit unions decline in public opinion .
✅ Here's where you can watch (might skip over the first 20 minutes or so of introduction to save time): [link]. Good luck, ain't pretty.
😎 Probably much more than you want to know, but don't believe the "Nothing Really", everything's alright type commentary being put forth by our leadership in North Carolina - taint so!
As you will see...
"What changed at SECU"? Purpose.
Email sent to members today:
ReplyDeleteDear SECU members,
I want to bring your attention to an issue the credit union industry is facing – the issue of federal taxation. It is not new to our industry, but in our current legislative environment, it is an escalating concern.
Our advocacy partners, America’s Credit Unions and the Carolinas Credit Union League (CCUL), are leading the industry charge to ensure credit union members are aware of and engaged in measures to protect against federal taxation. To assist in those efforts, they established an important initiative called “Don’t Tax My Credit Union.”
Please take a few moments to view this information and learn more about the potential impacts of this issue and steps you can take to help us protect against federal taxation for credit unions.
We appreciate your support of our member-owned cooperative. Together, we can make a difference!
Leigh-Brady
President & CEO
Looks like our leadership in NC is taking this seriously.
Lol. Want to have the cake and eat it too. Don't tax my credit union and pass my bill so I can start sliding towards being a bank.
DeleteWhy can't I see the rates for Fixed and Adjustable Rate Mortgages on the SECU site? The other rates are there.
ReplyDeleteThere is a check today’s rate button
DeleteTODAY'S Rate?
DeleteThat’s what the button says
DeleteWatched the video. Learned NCUA does not have oversight over vendor authority. Wow, very bad for the IT changes at SECU. Especially with the FC clowns recently installed into leadership there. They don't know anything.
ReplyDeleteThat's part of the problem in Harper's thinking, and yours. NCUA should be able to add no value if they had a vendor exam program.
DeleteIf we're dependent on some burned out NCUA examiner checking boxes on some vendor exam checklist, we're in trouble. There is no substitute for, and nothing in the way of SECU doing robust due diligence and monitoring of vendors, including protecting ourselves with the right contracts, SLA's, remedies, etc. That includes board level transparency on vendor risks and performance.
That's funny given the 3rd rated vendors having been chosen for all the new software....
Delete11:26.. not true. should be thankful that Hayes brought legit tech people in that know modern software.
Deleteoh God! that is crazy. you never worked with the fool, we did. he's not here for a reason and is not missed. empty bucket, hired same.
Delete'At Saturday's annual meeting in Omaha, Nebraska, ...
ReplyDeleteBuffett ( the 94-year-old) will spend 4-1/2 hours fielding shareholder questions' ... jus sayin ...
(Reuters)
But he still has integrity.
DeleteThe point is, he's answering questions.... for 4 1/2 HOURS from shareholders which would be 'member/owners' in our lingo ...
DeleteFunny getting the e-mail from Secu/ Leigh Brady. Worried about taxation but not about everything else she is doing to ruin Secu. My SECU loyalty left the boat.
ReplyDeleteBy screwing around Brady may cost us $40 mill a year in taxes.
Delete