The SAFE/Boeing Mega-Merger Mistake: "Can't Happen Here!"

   Comment Cluck-ery...

 ✅ Comments on the WakeMed post [link]:  "I by no means said or meant only a large CU COULD take us [SECU] over, it's that it WOULD never happen."

"What would be relevant and welcome is for you to challenge me on the actual point I was making, which is the notion of us being "taken over" by a small credit union is extremely improbable, silly, and not a practical reality." "It’s a theoretically possibility with as close to zero probability as it gets."  

   ... uh oh!

😎 Really hate [not really!] to bring this up, but on July 1, 2024 in North Carolina - right under your beak! - CIVIC FCU took over Local Government FCU. [link] 

At that time:

• CIVIC had total assets of @ $120 million; LGFCU had @ $4 billion in assets. 
• CIVIC had @ 10,000 members; LGFCU had @ 400,000 members. 
• CIVIC was losing money; LGFCU had been profitable for 40+ years.
• CIVIC has in 2 years lost $1 billion in assets, lost 100,000 members and lost over -$175 million in net income.

😎 THIS MERGER WAS APPROVED BY ALL OF THE REGULATORS!

  Reckon they "missed something"... that everybody else could see?