The More The Merrier?
The last few days, commenters have obsessed over the $26.5 million insurance loan made to our CEO. Folks have jumped on that carousal with a vengeance.
✅ The lurid attraction is a dangerous distraction! As an SECU member, don't lose sight of the more fundamental questions [link] our CEO has - to date - refused to answer about: those "no amendment amendments", the new trampling of individual member privacy rights, revocation of member rights to speak, participate, and present resolutions at Annual meetings.
✔ And then there is, the new 30 minute annual meeting limit on 3 million members to ask our CEO and Board questions!
So, don't get too distracted by that $26.5 million painted pony; Ms. Brady has promised to answer and post all submitted questions. Commenters have sought clarity: what insurance company, what agent, what premium, what rate, who's cousin, etc.
✔ Lets hope the answer is not what one commenter claimed: "... More importantly, you have no right whatsoever to know that information" October 18, 2026 at 10:56 AM.
Might point out that every North Carolina teacher and all state employees' annual salary/benefits are publicly published... as are the comp levels of CEOs at JP, Chase, Citi, and BOA. SECU shouldn't have anything to hide.
✔ No right to know? Wrong about that! The reason the IRS requires disclosure is they want credit union members [and charity/non-profit supporters] to know exactly what's going on due to rampant abuse in this benefit area.
The BNC article [link] was somewhat sketchy: State regulators don't approve CEO compensation/benefits - a $26.5 million loan to any SECU member would of course raise their eyebrows! SECU execs already have substantial special retirement packages [SERPs] which didn't require approval.
😎 But, do your own research! Call up your life insurance agent, tell them you're a 60 year old female, in good health, and would like a quote on a $26.5 million life insurance policy. Let us know what they say!
