First, there was the "no formal proposal proposal";
✅ Re: "The SECU Annual Membership Meeting - 2025: "Curiouser and Curiouser!"" [see post link here]
Q: How does an SECU member present a resolution to the Board of Directors?
😎 "The Fine Print" response from the Chief Legaler: [link to legible version]
😎 Ms. Plaut, CLO, quote: "To date, SECU has not promulgated rules and procedures further detailing this process, but your request seems to suggest we should. We will give that idea due consideration." [see letter above, paragraph 5]
😎 The Bottom Line: No rules, no procedures exist... just kinda made all this up!
I'm gonna need therapy soon .... ;)
ReplyDeletenothing stopping you from having a special meeting. I'd get busy now getting all those votes if I were you. Ha Ha!
ReplyDelete9:34am Your legal advice then is to just kinda wing it? No rules or procedures are needed with SECU?
ReplyDeleteMs. Plaut implied she will work on them. It’ll take a coupla years to get the votes needed, so if you start now I am sure the procedures will be done by then. Besides, you shouldn’t need that much handholding. It’s in the bylaws.
DeleteDon’t be absurd - there are bylaws and procedures. Of course we should have them. The election procedures, for example, are very thorough and easy to understand (well, for most folks anyway)
Delete10:50am Well, agree with you that procedures should exist. But Ms. Plaut states none do . Curious(er).!
DeleteI have been trying to find the bylaws she referenced any advice on where to look all I can find is the changes in 2023
Delete9:51 am NCUA requires FCU's to post bylaws on line... reasonable rquirement, esy to do, keeps members informed,
DeleteSo far SECU has refused to post its bylaws... not sure why that is a problem.
But it at least makes it understandable why you don't know that it isn't "...in the bylaws." Sorry, no mention at all! Next suggestion?
You know how many members you need. What else do you need to know. Want us to rent a stadium for you or something?
ReplyDelete9;57am Suggesting "Kenan-SECU Field"?
Delete@11:48AM If sponsoring a field for $1m brought in $5m in business/income to distribute the membership, I’m all for it.
DeleteCan we play kickball while we are there?
DeleteToo anyone curious SECU Bylaw
ReplyDeleteArticle VIII MEETING OF MEMBERS
SECTION 4
Special meetings of the members may be called by the chairman and shall be called on the written request of 10% of the membership.
Not sure if you have been unable to find this I couldn’t find it on website took me a while to locate it.
12:26pm To help other SECU members, can you say where you located it? Thank you.
Delete11:57; False again. NCUA DOES NOT require credit unions to post bylaws online. Requires they are provided on request
ReplyDelete8:48am Is the question "require" vs "should"? You do agree there is no question that every member is required to be given access to the bylaws, don't you? Well?
Delete"To determine if credit union members have access to CU bylaws, consider the following points:
*Credit unions typically provide access to their bylaws to members.
*Bylaws are often available on the credit union's website.
*Members can request a copy of the bylaws from the credit union's office.
*Some credit unions may include bylaws in member handbooks or welcome packets.
*Transparency is a key principle for credit unions, promoting member awareness.
*If unsure, members should contact their credit union for specific access details."
Seems like the lack of transparency remains the hallmark of the Board and ELT!!
Why shouldn't all members have easy access to the bylaws?
We are permitted, of course, to post voluntarily by laws online. Instead of falsely accusing us violating an NCUA requirement, why don't recommend they are posted voluntarily or ask a question about why we choose not to post them. That would be a reasonable and credible question
Delete9:01am Fair enough Here goes:
DeleteWhy does the SECU Board choose not to to post the SECU bylaws?
It took going into the branch for me to find what I posted earlier the rep took a while to find it. In the days of technology I don’t understand why it wouldn’t be displayed in a manner easy to find and read. There was some good stuff in there about member rights. I would encourage anyone who is interested to ask your local branch for a copy.
Delete9:03am Either way, you framed the right question. Answer: while there a very requests made my members for the bylaws (low interest / demand) there is no apparent reason they shouldn’t be listed online for easy access to all members.
DeleteFor 85 years, the board and executives at SECU ran it to serve the members. When Mike Lord retired, there was a NEW philosophy instated and Jim Hayes from West Corp was hired to see that every nefarious practice in a financial institution would be put in place. Destruction of a beloved and well run North Carolina institution began and has not ceased. First rule of the board and ELT is members and branches are unimportant.
ReplyDeleteThis may sound like one person's opinion, but it is 100% absolutely true.
DeleteGym, The Trojan Horse of Industry Standard of Transformation
DeleteRe: 10:24am if you're not familiar with all this; there is a 17 part series on what was perhaps the worst leadership decision ever made in the credit union movement... starts here ("Candidate Search"):
Deletehttps://www.secujustasking.com/2023/06/the-candidate-search-knowing-where.html
12:16… hilarious. Worst leadership decision ever made in the movement? Dramatic much?. Let’s get over ourselves a little bit.
Delete@1:10 Dramatic? I wish. That singular decision led to the destruction of the most member oriented and "set the right example" financial institution in the country. Also, financially sound and successful. A model for how to do things the right way. One of one.
DeleteNow SECU is industry standard. Congrats.
Everyone should read those articles on Jim Hayes from West Corp, biggest Failure in CU history costing $$$$$ . You do not know your history and are not willing to learn. Hayes also cost SECU members 6 million bucks in some ridiculous retirement funding scheme. Read up on the man. it was the worst leadership decision ever made in CU history.
DeleteThere is a member resolution process available to you and any other member. You were given a rational, thorough and objective response and a topic that fully conforms with bylaws and regs.
ReplyDelete9:11am Was this the fully rational, fully conforming, fully objective bylaws/regs response you were referencing?
DeleteMs. Plaut, CLO, quote: "To date, SECU has not promulgated rules and procedures further detailing this process, but your request seems to suggest we should. "?
You're joking I take it...
The board/ELT are in the spotlight and like the vampires they are, they hate the light... hence the nasty dialog from their underling ...
ReplyDeleteYou are a sad stange little man and you have my pity.
ReplyDelete