Saturday, September 6, 2025

The SECU Annual Meeting: The Lack Of Transparency Fuels Distrust ...

warren buffet 2 Work at "doing things differently"... instead of seeking to be something less.

😎 Wanted to make sure you didn't miss the difference in a world class Annual Meeting - Berkshire Hathaway.  

  "The question-and-answer session -- a centerpiece!"

Berkshire Q&A: Buffett says he expects tough questions 'and that's the way we like it' [link] 

 

✅ "The three of us will not get so much as a clue about the questions to be asked. We know you and Becky will pick some tough ones and that’s the way we like it," Buffett said.

 

  Independent, impartial "curator".     [SECU Board - No!]

  Random, un-screened questions.      [SECU Board - No!

  Questions from the floor.                  [SECU Board - No!]

 ☑ Follow up questions.                         [SECU Board - No!]

 ☑ Live stream questions.                      [SECU Board - No!]

 ☑ Up to 5 hours Q&A.                           [SECU Board - No!]

 

SECU BOD group  "State Employees’ Credit Union (SECU) is a member-owned not-for-profit financial cooperative, grounded in the credit union philosophy of People Helping People®." [link SECU website] 


  Could have fooled me...

 

 

 


21 comments:

  1. How can members be heard? Aren't we "shareholders"? What is the way the SECU ELT and Board hear members concerns and questions? Or are they all referred to the legal department? One question and no way of knowing what has been asked, and no follow up and all written answers from ????? the legal department?

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    1. 9:17, How can members be heard? Ask a question. What is the way they hear members concerns and questions? By allowing them to ask questions. Why do people seem to think the annual meeting is the only way we get members feedback?

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    2. just the way they like it ...
      when you work in the kitchen, you should expect the heat!

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  2. They members hate the ne voice response system, but management doesn't care about their concerns and tells us that they will not change back

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    1. Ok? So how many members have used the voice response system prior to implementation of the new system? How many use it now? What percentage of the existing users and new users have complained? Just because you get complaints does not mean it is an issue for the majority or even a large minority.

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    2. I largely disagree with this blog and largely support these changes at SECU. But yeah, the new system is absolutely terrible.

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  3. 840. I’m a member and I do t hate it. Maybe some that can’t get with the times do, but the system is fine. Want to talk to someone? Go to the branch.

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    1. How long do you think members will be able to talk to someone in a branch?

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    2. We won’t close the branches until we expand the call center with offshoring .

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    3. Forever. As much as they would disagree, the branch voice is the single most considered perspective. Even if something is a great idea, if branch leadership doesn’t support it, the idea goes into the trash.

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    4. @9:12 If only you were right. Heck, if only you were 50% right. The folks in Raleigh care very, very little about what the branches think. It's mostly lip service. Didn't use to be that way pre-Haze.

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    5. @2:18 where is your evidence of this? The RSVPs review EVERYTHING before it gets implemented. They sit on all the committees. They have the power to derail any initiative.

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    6. @6:35 The RSVPs used to represent the branches, now they represent the ELT. Know for a fact that any dissension from the branch employees is frowned upon. "Don't put negative stuff in your monthly report." RSVPs deliver the edicts to branches from Admin and LA not go to bat for them. If you don't tow the company line you're an "enemy of the state".

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    7. @10:55. Know for a fact that isn’t true. Enemy of the state? What is this, a sci-fi film?

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    8. @9:53 Nope, no sci-fi. Unfortunately it's a very sad reality. The RSVP of the region I am in wants to hear nothing but agreement with whatever comes down the pipe. Anything else and this RSVP gets defensive and holds grudges. Any legitimate challenge to the status quo is met with derision.

      But glad your little corner of SECUworld is perfect. Congrats.

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    9. @2:18 this is true. My RSVP told me that my opinion would be taken into consideration once I added an R and an S to my title… guess the power goes to their heads quickly

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    10. Agree. The RSVPs are just pawns of the ELT

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    11. They’re aren’t pawns. Sounds like a few others need to try to walk in their shoes - if they can even get promoted that high.

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    12. @7:17 Alex, I’ll have Things That Didn’t Happen for $200

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  4. Maybe they will post the answers from the Annual Meeting questions on the new big screen TVs installed in the branches?

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  5. Old / old stuck us with the huge brick and mortar footprint and atvjeast 50 can’t justify being open based on volume. We can get more growth by closing them and opening more in deserts. When you close a beach. The members don’t like and they complain a little hut still stay. So you get new members with new branches but keep the existing ones, so growth increases.

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