Final Thoughts On The SECU 2026 Annual Meeting Q&A: The De-duck-tion Is A Re-duck-tion In Benefits... At Least For SECU Members.

  Here ya' answers busta!  Happy now?              -  D. Duck

Well no, not really, but time to finish up the Q&A "monologue discussion" with our CEO from the 2026 Annual Membership Meeting. The video of the meeting and answers to pre-submitted member questions have been posted [look for the "PDF" click] . 

Had noted in prior posts to look especially for answers on three key issues: the suspect "no bylaw amendment amendments" of 2025,  the 300,000 member signature petition now required for simple resolutions for the board, and the imposition of diminished privacy protections on the membership. The "answers" appear inadequate , but Ms. Brady did her best.

✅ As SECU members, after 5 years of "new/new" cooperative, democratic leadership; we are left with the following improvements:

Year     Member May Speak     Member Resolutions    Q&A 

 2022         Fully Permitted         Fully Permitted          Yes

 2023             Restricted                   Restricted            Yes 

 2024             Prohibited                  Restricted            Yes

 2025             Prohibited                  Prohibited           Yes

 2026             Prohibited                  Prohibited           30 min.

✔ Can't wait for 2027! What will they tink of next? 

✔ On a more positive note, to clarify that answer about that $26.5 million loan to Ms. Brady [see #35 - PDF]. That benefit is in addition to, on top of the already existing CEO  "SERP" benefit, so it does not "lower costs" as implied. 

😎 And, that CEO "multi-million dollar benefit loan program" has been provided to only two, not "several", SECU CEOs - Mr. Hayes & Ms. Brady. Will have to admit that if Mr. Hayes was worth $6.5 million, then Ms. Brady is worth more, but ....

 ... might want to closely consider that comparison, before celebrating too much!  

Remember CIVIC FCU? No Need To Eat Crow... That Bird Is A Swan!

   A Black Swan.

The world used to believe all swans were white; and, the axiom "as rare as a black swan" was used by everyone to describe something that didn't exist or couldn't happen.   

But things changed @ 1700AD, when the first black swan was discovered in Australia.  

In 2007, a wonderful economist (that made you laugh, I hope!), Nassem Taleb adopted the phrase "Black Swan" to describe economic, social, or political events which are beyond the realm of normal expectations. Events so rare and unusual that they are unique, unpredictable, unforeseeable. Our latest Black Swan event in the U.S occurred last Tuesday!

Another example has been the evolution of Local Government FCU into CIVIC FCU on "Independence Day" in June, 2025. That was a bold move [link] which has resulted in a Black Swan scenario for the credit union. 

According to the September, 2026 NCUA regulatory report, CIVIC FCU assets have now dropped below $3 billion (down $1 billion+), membership has declined by @100,000, and 2026 will be the fourth consecutive year of annual operational losses, approaching $200 million. Required capital levels have dropped substantially.

There has been a lot of finger pointing, controversy, and perhaps ill-will between CIVIC and SECU over the last 3 years. One would hope that those disagreements and disputes could be set aside and that the two credit unions can quickly find common ground to work together again. 

✔ Time to address CIVIC as the black swan it represents for North Carolina; a new, rare opportunity, rather than an albatross. 

If not, North Carolina municipal and county employees and their families will lose out.  

  Do the right thing... no crowing allowed!