The difference between a real choice and a false choice is often transparency. If we are asked to vote, or are required to make a critical choice, "the facts of the matter" matter.
If we aren't given accurate, nor sufficient information, the chance of choosing wrongly is greatly magnified. Or, was creating a false perception the real goal all along?
With the SAFE merger vote, the members weren't told they all could join BECU for free - without giving away their thriving, locally-owned, locally-controlled CU. Wouldn't you have thought that was important information? No payouts, no payoffs, no merger costs required - all available for free! What's the choice here again?
With our local WakeMed non-profit hospital merger, the lack of transparency closely mirrors the "imaginary perks campaign" pursued by the SAFE Board. A widely touted promise of $2 billion in future investments by the acquirer, Atrium Health, is proving to be a fiction. The WakeMed CEO has now publicly admitted that most - if not all - of that $2 billion "perk" will be funded by WakeMed itself, not Atrium. Lying or a $2 billion oversight?
With SECU, our CEO Leigh Brady has yet to admit and refuses to explain why the SECU Board has voted to further restrict the self-nomination rights of SECU members [link]. Why the lack of transparency? Why not simply explain the reasons the Board voted for these bylaw amendments? What is there to hide - from the SECU membership? Is the truth that threatening?
✔ All three are tax-exempt, non-profits created to fill a void in their local communities. Why can't they handle success, while remaining true to purpose ... and honest with the people who made that success possible?
Getting too big for their fiduciary breeches?
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