SECU What's Next? The Letter Of The Law...

  Working overtime!

Ms. Caroline Warren, North Carolina Credit Union Division

July 1, 2025 [10:12pm]

re: 2025 SECU Board Election Policies and Procedures

Dear Ms. Warren,

Thank you for your letter [see below] concerning the above complaint received tonight July 1, 2025 at 7:17 pm - you're working late!

Your letter is clear on your adverse decision. No disagreement with your statement, although NC credit union law § 54-109.12. [link] states exactly the opposite. 

I must ask for a brief clarification on the statement in your last paragraph which reads:

"Our agency does not interfere with a board of directors’ business decisions that are not in violation of laws and/or rules under our authority."

Would  ask that you reconfirm that requiring a credit union to comply with its bylaws does fall within the "laws and/or rules under our authority."

If you will please confirm your authority over violations of credit union bylaws, would be happy to accept your decision and consider this matter closed.

But, don't stay up all night; a response later tomorrow would be great! Again, thank you for your time, patience, and courtesy.

Sincerely,

Jim Blaine, SECU Member

 

** [Haven't heard back yet, but thought you'd like to see the response.] **

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SECU What's Next? Credit Unions Outgrow Their Members?

    Summer Reading [link]

✅ Mergers, Bank Buy Outs, Charter Conversions, Growth For Growth's Sake, Boards and CEOs Grabbing da' Cash! [link]

❊❊❊ SECU Member Reading Comprehension Test ❊❊❊

1) Would you like your credit union to: a) spend your money buying a bank or b) spend it paying you better savings rates?

2) Would you like your credit union to: a) make large commercial loans or b) lower your current loan rates?

3) Would you like your credit union to: a) let anyone and everyone join or b) improve the quality of service to you?

4) Would you like your credit union to: a) merge with out-of-state credit unions or b) work harder to serve you and North Carolina?

5) Would you like your credit union to: a) expand nationwide or b) focus on you, your family, and your hometown?

6) Would you like your credit union to: a) grow much, much bigger or b) get much, much better?

7) Would you like your credit union to: a) pay directors or b) let you speak at the Annual Meeting?

8) If your credit union were merged, converted, or sold, who should get the excess $$billions in reserves: a) "them" or b) you?

** Bonus Question:  Do you like waiting on hold?

  Why does SECU need H187 so desperately... ?