Up for grabs!
We're trying to refocus on the critical threat confronting credit union members nationwide - the commercialization of credit unions and the emerging "grab for cash by management and boards.
This potential looting of local credit unions is well underway and is evidenced by the many "scale-up" mergers, large insider monetary payouts, questionable bank purchases and the purposeful elimination of member ownership, control, and governing rights.
Insiders are playing a sophisticated game of high stakes, high rewards poker. If the past is often predictive of the future, credit union members - that's you - are playing a losing hand. The cards are marked, the rules aren't rigged in your favor!
But before we go forward, as a credit union member-owner you need to be convinced that you, your family and your community have a substantial financial interest in the outcome of the coming conversion and misappropriation of credit union assets.
So lets return to the issue of "Member Equity" [link - MisApp #1]. Again using SECU as an example, the member equity at SECU is @$6 billion! Those are the "reserves" that have been built up over the years to protect the credit union from unexpected losses or problems. That $6 billion belongs to you as an SECU member!
With @ 3 million members, each SECU member-owner is each entitled to @ $2,000 (($6 billion /3 million). But actually for you, it's probably much more than that with spouse, three children and five grand-kids - that would be $20,000!
✅ Since that "member equity" belongs to you and your family, here's the question: Would you rather 1) receive the $20,000, or 2) give it away?
Take your time... can't wait to hear your answer!
