SECU New Culture/New Direction - May, 2023 Financials

 😎 Your senior leaders (both the "current/former" and the "current/future") are trying to convince the SECU working staff that "SECU's financial progress" is the fault of the Federal Reserve! That seemed to be the "bottom line" of this week's statewide, staff-wide Webex. Were y'all able to listen in too? Easy to do, y'know. 

   

❓Don't the policies of the Federal Reserve equally affect all credit unions nationwide? (It's not like risk-based lending which punishes the weak and vulnerable, is it?)

😎 Just for the (accurate!) record for all U.S. credit unions, here are the official federal regulatory (NCUA - link) data:

■ Total assets in federally insured credit unions rose by $93 billion, or 4.4 percent, over the year ending in the first quarter of 2023, to $2.21 trillion. 

✅ SECU declined by - 4.5%... below "industry standards" by - 9.9%!

■ Insured shares and deposits rose $39 billion, or 2.3 percent, over the year ending in the first quarter of 2023, to $1.73 trillion

✅ SECU total deposits declined by - 5.7%... below "industry standards" by - 8.0%! 

 😎 Know you say that SECU is not a "yacht" (we all agree with that!), but let's make sure SECU never becomes a...

The Brady Bunch - A Comedy Of Errors?

  The Brady Bunch is an American sitcom... *

 

                               ... a comedy or a tragedy?

 

...Why is nobody laughing?  

Because it has become a farce? *

 

* Farce - a comic, dramatic work using buffoonery and typically including crude characterization and ludicrously improbable situations.

 

 * Sitcom, or situational comedy, is a genre of comedy centered on a fixed set of characters who mostly carry over from episode to episode. Sitcoms can be contrasted with sketch comedy, where a troupe may use new characters in each sketch, and stand up comedy, where a comedian tells jokes and stories to an audience.