"Ceremony Marks Launch of Lending Hope Initiative... "
✅ The Warren Record: February 4, 2026 [link]
Warren County, North Carolina lies below the southern border of Virginia along the Roanoke River. In the 1840's Warren was the wealthiest county in North Carolina, not so much anymore. The Civil War, the advent of the railroads, Jim Crow, and the decline in tobacco and textiles all took their toll. The population is @ 20,000 and declining, median household income is $34,000. Warren County is wooded and rural, civility remains the norm, church-going expected. Folks, for the most part, are personable and caring, families are still tight. It's a nice place to live.
Lending Hope Initiative: "Our mission is to offer small, interest-free loans that assist applicants in managing rent, mortgage payments, utility bills, and deposits." To apply, you must live in Warren County, provide proof of income, and work with volunteers to prepare a budget. The applicant will sign a repayment agreement. "When the money comes back, we will lend to someone else in need."
✔ What a novel, innovative idea! Cooperative, community lending to a limited group, sharing a common bond, on a non-profit basis. "I hope a more sustainable model can get going..." [Any ideas?]
😎 As a credit union, you only become irrelevant, when you're no longer different - just another "industry standard" insignificance, just another unexceptional commodity. A masquerade...
The original purpose for a credit union may have become lost, the need for credit unions hasn't !
The happiest people are those who do the most for others. The most miserable are those who do the least. – Booker T. Washington
ReplyDeleteInterest free loans. Sounds sustainable for a Credit Union. Also, please reference your previous posts where you said deposit rates were too low.
ReplyDeleteNot sure what point of this post is. This is what credit unions do everyday. More specifically, this is what we do with mortgages at massive scale. Qualify for membership among a common bond definition, fog a mirror on qualifications and off you go with a high five.
ReplyDeleteHome ownership enabled with a loan no one else would make. Then not only non-profit, negative-profit, mostly unknowingly subsidized by other members in the common bond.
So nice little initiative here but you actually invented this model so it’s nothing novel.
Yup, that’s basically it 8:43
Deletewell you're in charge now ... how's that core replacement going, asking for a friend ...
Deletewe get it, you hate credit union members. Why you work for a credit union is what I don't understand ...
Delete9:57. Not true at all. Love all our members, including A tiers, small business owners,
Deleteand rewards card holders. Then am particularly empathetic to those members we stuffed into high risk mortgages.
9:37am we're incompetent but we'reew working on it
Deletemay take a long time
DeleteFunny how you avoid the Civic topic. You talk about boards that agree to merge are violating their fiduciary duty by literally giving away capital. Civic story is huge and as far as I can tell, without precedent. Board failed to properly evaluate the merger proposal and implications of it. Hayes gave Maurice and the Board a lifeline and they shut it down, and very clearly didn’t assess the risks, implications, and preparedness to shun secu and go it alone. You whined for two years about SECU approaching them - and we said we did, BTW and did not lie.
ReplyDelete"Hayes gave Maurice and the Board a lifeline..." Why was a lifeline needed? What was wrong with the way things were?
Delete8:01am Nothing "funny" about the Local Government FCU/SECU split. At least we now have a much belated admission that the merger proposal by SECU was real... not a surprise for employees and most members.
ReplyDeleteThe lying about that issue sparked the initial distrust of the board and CEO by both members and staff. Thanks for the confession... not sure why lying was ever necessary.
Folks have a tendency not to forget when they are lied to... removing that stain will not be easily overcome. The recent "no amendment amendments" haven't enhanced current credibility.
It’s ridiculous and beyond petty to have your perpetual tantrum on these two topics. If you actually read or listen to what your are told - no one denied amendments were approved at the board.
Delete10:20 am Again thanks for the belated admission that the SECU Board amended the SECU bylaws in September and hasn't told the members.
DeleteWhy not? What are in those board approved bylaw amendments? Hoping it won't get out?
Sounds a bit Epstein-ish...maybe just redact the text and go ahead and release 'em?
Nice try. No admission whatsoever. They didn’t amend the bylaws in September.
DeleteYou’re still dodging the point. You criticize us for wanting to merge, and made Hayes out to be a villain because he was persistent with Maurice. Well, Maurice and his board made a fatal decision in not merging and will be sued for it.
ReplyDeleteThe things I will remember Hayes for - was... pushing LGFCU away, misrepresenting SECU's technology and selfies.
DeleteI remember his stream of stupidity memos to all employees and his fake guru silliness. We still have them so don't try to lie.
DeleteGym had no substance over his head why he fled
DeleteHe left because he was such a mess. Not missed.
DeleteThe saying, "All hat and no cattle" comes to mind when Haze' name comes up.
DeleteGym & Board = “Move fast and break things”
DeleteTear down anything/everything related to the past
Change the culture ...
Hayes bullied Local Government and Maurice Smith. Maurice's memo striking a conciliatory tone and searching for a way forward in collaboration was published on this blog. Hayes was having none of it.
DeleteWe all knew Hayes sucked day one. Dumb board especially the know all lawyers. proudboys and girls
Delete@8:08. Exactly. He did what was stupid.Just like his billion dollar bungling at wescorp.
DeleteHayes had conviction and a point of view that was obnoxious and inept. Maurice thought he could be reasonable with a fool.
DeleteA fool is a fool always
@9:37 Call him the fool, that’s fine. Maurice didn’t have to agree, and he didn’t. End of story. He had the opportunity, didn’t take it, and the destroyed their credit union. Say what you want about Hayes but the merger he pushed for was the right answer. Hayes is vindicated. Smith is liable.
DeleteThe past doesn’t natter, aside from Civic’s boards liability, because we’re going to do an NCUA-assisted merger with them this year.
Delete@9:29 "Hayes is vindicated" Really? I think you just misspelled indicted. That would make more sense. Lol
Delete9:29am Is it fair to accuse Maurice of liability in remaining civil while dealing with a feckless feather-head?
DeleteJust listen to what you were told and shut up. LB said if they change, you’ll hear about it.
ReplyDelete@8:39. Well said.
Delete9:07 pm Moron here I agree with you
DeleteWasn’t the whole reason for the structure a lawsuit brought by the bankers that made it illegal for SECU to extend their field of membership to cover local government employees? That has never been reversed. Doesn’t SECU have an entire legal department. They could look it up for you
ReplyDelete