✴ North Carolina and the Nation continue to watch...
Even CIVIC FCU [old Local Gov't CU] CEO Dwayne Naylor seems to agree with the bankers in debunking the Carolinas' Credit Union League's "financial deserts" mythology. [link] and [link]. According to Mr. Naylor: "The banking deserts do not exist in the model that we're creating."
😎 You probably don't want to know what Mr. Dan Schline, CEO of CCUL, and his cohorts were trying to pull over at the NC Legislature this week. It was quite a slither...!
Nah, you really don't want to know... do you?
Shame on the credit union league. They snuck the changes into a "totally unrelated bill" at 9:00 the night before the vote. They were hoping to sneak it into legislation in a very dishonest manner. I know this happens all the time, but to see credit uniions doing it is astonishing...
ReplyDeleteWell.. they're a trade association and with paid lobbyists, and they can't do that on their own - they need help from an elected to do that. Either way, that's how the game is played, and they didn't make the rules.
DeleteFinancial deserts are a real thing. Gwaltney isn't wrong, banks "will invest wherever potential opportunity exists", which means wherever they can do it profitability. Fair point that the league might be exploiting that concept for other purposes, but that doesn't mean financial deserts don't exist - it's a simple geographic definition.
ReplyDeleteLooks like Mr. Naylor solved the problem, though! So what kind of model is he creating? Does he even know? Hilarious the bankers found him. Ask him how is model is working out for him right about now.
They are literally proving the concept of financial deserts and the impact to people when branches aren't in close proximity. You were right about the merger and system conversion, it was a huge train wreck coming and it came off the rails on the first day.
“The banking deserts do not exist in the model we are creating”. That’s in the top 10 of the dumbest things ever said by a CU CEO. And, somewhere in Dwayne’s top 100.
ReplyDeleteGotta a different question for Dwayne and Civic to ask: Who are we, in 2025 to provide safety and security, a quality human interaction, and to serve our member owners how they want to be served when they can pick up the phone and wait 60 mins for an outsourced agent?
@ 10:43AM please explain. I must have missed this part. This WHOLE bill is 100% pushed by the League and SECU. Ask a legislator that is pushing the bill and they will tell you, like they told me, this is 100% a bill for SECU.
ReplyDeleteShady and so is Mr. Schline.
Explain what?
DeleteThis must explain why Leigh Brady sent an urgent email recently to her leadership team telling them to forward to all employees urging them to email their senators and support this bill. Using your staff and employees to push a controversial agenda is a new low.
DeleteYou are 100% correct...this is the NC SECU bill. They are both the primary proponent of the changes and Dan Schline's enabler. We will soon see where the NC credit union division stands.
Delete1 26.. Most CU’s and leagues solicit their members - including employees, to engage their reps on matters important to them. Nothing low or unusual about it. And, aside from the usual bank lobby rhetoric, and the fact that there is less than a 100% consensus around it (which is true of virtually every bill everywhere), there is nothing controversial about it.
Delete