... better take a look!
“The only thing worse than being blind is having sight but no vision.” - Helen Keller [link]
Credit unions nationwide are merging and "selling out" - their member-owners in particular! Here's the latest, very large example [link]. This trend will be coming to North Carolina in the very near future!
Have tried over the last few months to encourage the SECU Board and our CEO Leigh Brady to detail their strategy on the issues of merger and charter conversion to the entire membership. The latest request was on November 11th [link]. The two key points were:
✔ For your information, the two issues which I believe need to be addressed are the rights of SECU members in the event of 1) merger, and/or 2) charter conversion. These two important credit union governance changes are occurring with increasing frequency nationwide - among credit unions, large and small alike.
✔ You and the SECU Board could provide tremendous leadership for credit unions by discussing, reviewing, and adopting appropriate governance rules protecting SECU members.
Lack of vision can indeed be a problem for a credit union... a refusal to speak to the members can also be disabling.
You must be really bored. 1) charter conversions are not occuring with any real increasing frequency 2) If the Board decides to merge into Navy Fed, members would vote. That’s all the protection they need. 3) If the board decides to merge another cu into SECU (likely CIVIC), members aren’t at risk at all, and 4) Were you not listening at the annual meeting when the CEO said we don’t have plans to merge?
ReplyDeleteIf actually wanted to add value to your readers you would actually outline where you think the bylaws and regs fall short, how members aren’t protected and why, and what changes you would recommend.
One thing’s for sure - never seen anyone so adept at complaining and throwing tantrums about what you think is wrong. But, rarely, if ever, do we see credible solutions or recommendations from you.
Can you start by telling us how you think members are unprotected in the first place? Hard to get folks to buy into a problem you’re think needs to be solved when you don’t (or can’t) frame a rational problem statement. And no, your hyperbolic “6 billion is up for grabs” count.
ReplyDeleteYou should change the name of the blog to SECU Just Complaining.
'Narcissus" is in full bloom!!!!! See comments https://www.secujustasking.com/2025/11/while-we-wait-on-no-complaint-complaint.html
ReplyDeleteGrab a shovel ... the fertilizer gets deep, with a wiff of decay.. A poor reflection on sensibility and reason.