2026 SECU Annual Meeting
Talked yesterday about how the SECU Annual Meeting has been debased by the ever escalating restrictions on member participation [link]. The SECU Board seems to have adopted the late 1800's authoritarian attitude that: "Children should be seen, not heard"!
But, the Board still permits SECU members to listen, as long as we do so quietly - mutely! The meeting agenda calls for a "Q&A" session in which our CEO will read answers to questions submitted in advance. Have received a number of the questions submitted. Thought we might take a look at a few of them over the next few days.
The questions seem to fall into 3 broad categories: internal, governance, and future/ethical/integrity concerns. Let's start with the internal issues. First, it's impossible for anyone to respond to the employee and member "friction" questions which arise in the normal course of business. Often very personal! Need to talk with your local manager or HR about those. But here are a couple which seemed broader:
- Does the Board intend to degrade employee health coverage as they did with retirees?
- When will the "core" computer conversion be completed?
- Is the Board aware of how poor our service has become on call center contacts? Why not?
- Why doesn't the Board publish our monthly financial statements online? Is there a problem?
- Am I the only person experiencing problems with the new bill pay? Late payments, dropped items, issued a post-dated check which "bounced"! Fixed?
- Do you still intend to make risk rated mortgage loans to us?
- How will you handle layoffs caused by AI? How many do you forecast?
- Please do a professional, independent, anonymous employee survey. You need to know.
Not too bad a list, with some important questions. Would add that the SECU Board might take a hint from #8 and add a "professional, independent, anonymous" member survey, too.
SECU used to be among the most favorably-ranked credit unions by members in the U.S. - still true? The type of "member survey" techniques now being used by SECU are neither empirically grounded, nor statistically sound.
😎 Can be risky operating in the blind!
"Member forum"... for-us or for-them?
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