SECU What's Next? Another Round Of Newspeak Dodgeball...

SECU Claims  "robust governance" but again dodges the question.

CUDAILY  is a widely followed national newspaper focused on credit unions. Frank Diekmann is the editor and the most knowledgeable, respected journalist in the credit union sphere. CUDAILY today picked up the story on the dismantling of member governance rights at SECU [read here - link].

The article quotes heavily from the 6/20/2025 letter to Ms. Kristina Ray, Administrator of NC Credit Unions [link]. The concerns posed in the letter were:  1) in 2023 speaking rights by SECU members were restricted and the meeting agenda was altered to prevent member participation, 2) in 2024 the ability of SECU members to speak was totally eliminated, only non-substantive resolutions were permitted, and the standard business meeting agenda was again curtailed, 3) SECU has announced that in 2025 member governance resolutions submitted in advance will not be permitted, and 4) member governance resolutions will now only be permitted via a "special meeting".

Be sure to take a look at SECU's official "non-response response". While SECU leadership hysterically takes credit for the upsurge in member voting participation, there is no comment on the elimination of the ability for SECU members to speak, participate in the business meeting, nor to present motions or resolutions. The "non-response response" fails to mention that the SECU bylaws do not call for member resolutions to be made only at "special meetings" and almost comically ignores the fact that no "robust governance" procedures exist for a "special meeting" to be held! 

Ms. Ray, the State credit union regulator, remains silent.

SECU members are now in a "Brave New World" engineered to aggressively eliminate their financial ownership and governance rights. That should ring safety and soundness alarms nationwide for all credit union members.

   "Look for yourself, freedom of speech is not guaranteed anywhere "in our bylaws"!"