September 18, 2025
Via Email
Re: Response to 9/10 Email [link]
Dear Mr. Blaine:
I write in response to your latest missive emailed to me and posted to your blog. I understand you wish to "discuss" other possible alternatives the Board could use in lieu of special meetings that allow members to submit governance-related resolutions to the Board. **You also question the wisdom of the bylaw provision requiring 10% of members to submit a written request to call a special meeting.As noted in previous correspondence to you, allowing member resolutions outside a special meeting would be inconsistent with the system of governance established by the SECU bylaws. The bylaws provide that "the board shall have the general direction and control of the affairs of this credit union." This provision and the provision requiring a written request of at least 10% of the membership to call a special meeting have been in effect since the founding of SECU in 1937. These provisions are nothing new and evidence sound organizational governance.
Make no mistake, we love to hear from our members (whether adversarial or constructive), and never assume the worst! Members can (and do) make suggestions to SECU. We've made it easier than ever for members to engage directly with us through our branches, website, mobile app, and Member Connects. While these options might not provide a platform susceptible to commandeering, they are a wonderful source of feedback for SECU.
Finally, while I appreciate all you have done for SECU, our communications have run their course on these issues. Please know that we thank you for your input and welcome your continued feedback, even as we conclude our participation in this letter writing campaign.
Very truly yours,
Cathleen M. Plaut, Chief Legal Officer
cc: Leigh Brady, CEO
** 😎 I take it that means no discussion is acceptable with SECU - unless, of course, 300,000 SECU members request a "Special Meeting" with you, is that right?
