SECU Board "Transparency": Why Not Let The Members Know?

 

 

Ms. Kristina W. Ray

N.C. Administrator of Credit Unions

Raleigh, North Carolina

September 29, 2025

Re: Proposed SECU Bylaw  Amendments

Dear Ms. Ray,

On August 15, 2025, I wrote to the Chair of the SECU Board [link] requesting permission to forward resolutions concerning SECU governance and the bylaws for discussion well in advance of the SECU Annual Meeting. 

Ms. Cathie Plaut, SECU Chief Legal Officer, responded on August 25, 2025 that to submit resolutions for consideration, the SECU bylaws required 10% of SECU members (@300,000 folks) to petition for a "Special Membership Meeting". In an August 25, 2025 response to Ms. Plaut [link], which you received; it was pointed out that the SECU bylaws contained no such statement requiring a "Special Membership Meeting" concerning member resolutions. Ms. Plaut's opinion was simply a cringe-worthy attempt at invention. No prior SECU Board (since 1937) had discussed such an idea, no policy nor procedures exist at SECU for such a bizarre idea - for obvious reasons.

If the SECU Board is to proceed with the "Special Membership Meeting" requirement for simple governance suggestions, an SECU bylaw amendment will be required. Your approval of all SECU bylaw amendments is required by State law.

The SECU membership has not been advised of any new bylaw amendments, nor been given any chance to review nor hear discussions of the merit of such proposed changes. Absolutely no notification has been given, no input has been sought. The SECU membership should be given that opportunity prior to your consideration.

 

The SECU Board last adopted bylaw amendments on 6/27/2023, submitted them to you on 6/28/2023, which you approved overnight for implementation 6/30/2023 - the "optics" of which continue to raise eyebrows.

 

The carte blanche authorized by those 6/30/2023 amendments has been used by the SECU Board to bar member resolutions, eliminate member participation in the business meeting, and now to fully prohibit SECU members from speaking at all. Intended or not, the suppression of democratic participation and speech at SECU was achieved via your approval.  

October 8, 2025 is the date of the next North Carolina Credit Union Commission  Meeting. By State law it is an open meeting with public comment permitted. It would be an excellent opportunity for a transparent discussion of proposed SECU bylaw amendments. It seems unreasonable to preclude 3 million SECU members from such a discussion. 

The governance of SECU remains the democratic foundation right of the SECU membership and should not be abridged further.

Would you please advise of the time and place for the Credit Union Commission meeting, any requirements to present public comment, and how interested parties may participate in or livestream the meeting.

Thank you!

Sincerely,

Jim Blaine, SECU member

 

cc: Leigh Brady 

 

  "You'll know what you need to know when you know it."