Can Democracy Work? An Historical Election Enters the Final Phase

As important as this November’s Presidential and congressional contests are, an even more critical election for the democratic credit union system is underway at SECU North Carolina.

For the second year, there is a contested election to the board of directors.   At SECU’s October 2023 annual meeting three member-nominated candidates won seats from three incumbents.  This year four seats are open.  The four board selected incumbents are opposed by a four member-nominated slate that includes three former SECU senior employees.

This event is historical for SECU and the credit union system.

  • It is highly unusual for any credit union,  especially the second largest in America, to have an election the provides members  a real choice of who will  represent them.
  • SECU’s size demonstrates the feasibility of this  cooperative voting process. At an estimated 2.8 million members, all eligible voters received a mail-in ballot; or, they can vote virtually by going online; or finally, vote in person , at the October 8th annual meeting.
  • The election demonstrates that democratic governance, versus self-nominated perpetual director selections by boards, is a viable credit union member oversight process.  One member, one vote, not weighted by the percentage of ownership as in most corporations.

Entering the Final Weeks

Absentee online virtual voting ends October 1.   Both sides are promoting get out the vote campaigns.   The credit union has added a webpage with descriptions of the  election   steps.  Linking to the Learn More tab presents a two minute video from SECU Chair Mona Moon explaining the board’s nomination process and the virtues of their four incumbent candidates.  There is a second video with brief profiles and statements of these  four,  but not videos for  the competing slate.

In addition to the four  incumbents’ use of this “home court advantage” in presenting themselves , the credit union appears to be buying ads supporting their election on social media.  Here is an example with the SECU logo:

The Opposition’s Campaign

The member nominated slate is also active with a Facebook social media site SECU for All.

The site’s purpose is:

The member-nominated candidates are the underdogs in this race—up against a $50 billion SECU led by a board & administration that’s spending your money to suppress members’ voices and prop up these incumbents.

Help us spread the word! EVERY SINGLE VOTE MATTERS!

This Facebook landing page shows widespread grass roots participation as well as material for supporters’ use with their friends.  An additional site is a SECU for All resource with links to bios, letters sent to local news outlets and other campaign material.

The over a dozen letters to local newspapers are first hand member testimonies of support.  This effort has prompted local press coverage as appears in this excerpt below.

The SECU for All site includes multiple single and joint video statements from the four candidates explaining why they are running and their top priorities.   Many direct endorsements from former employees and/or current members are posted.

Other credit union CEO’s sent endorsements such as a video from Latino Credit Union’s co-founder with this intro:

The SECU member-nominated Board candidates are honored to have the endorsement of John Herrera, a true leader for the credit union cause. In addition to being a 31-year SECU member, Mr. Herrera co-founded the Latino Community Credit Union as well as serving on the NC Credit Union Commission and the National Credit Union Administration. 

Real Differences In Candidates’ Positions?

The four incumbents speak in general terms about “serving all the members,” but do not offer any specific changes or priorities that members might relate to.  It is certainly expected that incumbents would support the status quo.

The challengers have published five priorities: 

1) End Risk Based Lending. Restore the same, best rate for every member.

2) Restore competitive savings rates for every member.

3) Restore the commitment to “Do the Right Thing” for every member.

4) Restore the local focus. Local communities, local jobs, local decisions for every member.

5) Restore the employees’ faith in fairness, equal opportunity, and quality service for every member.

In addition, they question several areas of financial performance  including low share growth, the need for competitive rates, rising delinquencies and growing loan charge offs.  Some of these critiques are presented in the former CEO Jim Blaine’s blog SECU-Just Asking.

A Real Choice on Real Issues

The members’ choice between the status quo versus the challengers’ positions should certainly generate more owner interest in their credit union.  Who knew we could vote on the direction of our credit union?

Most importantly the election process will help clarify fundamental questions for SECU’s volunteers and senior management.

How does the leadership of a cooperative differ from traditional financial organizations?   What are the candidates’ views of a credit union’s fundamental purpose and unique role, if any?

Should members have to “earn”  their worth  to have an equal  standing for services?

Is the primary objective to serve the members’ needs or to promote the institution’s  market success?   As  one candidate remarked in his video, “to take care of the members, we have to take care of the organization.”  Are these duties separate or one?

For decades America’s competitive market dynamics for both individuals and organizations have promoted a culture of  “always wanting more.”  Greater growth, higher income , increased prestige and enhanced political and social power.  Outcomes that often come at the expense of others.

Both candidate groups want SECU to succeed.   The question the members will be able to address is how this greatness is going to  be defined.

Friday Night Lights: Revisiting an American Tradition

The five-year NBC TV series Friday Night Lights was the story of a high school football team in the fictional town of Dillon, a small, close-knit community in rural West Texas.

But this reality actually exists all across America.  The sports seasons are a central aspect of the high school experience for most American communities.  Especially smaller ones.

For example “Coach” Walz’s role in leading his high school football team to a state championship in Minnesota may be better known than anything he did as governor.

It was with much anticipation then, that last Friday I  attended the home football game of the Rensselaer, IN, Central High School versus the visiting West Lafayette team.  What I took away was not what I expected.

Here is a photo summary of a warm midwestern autumn evening on a playing field carved from acres of cornfields.

The team’s football schedule is announced  in every store window in town, featuring just five seniors.

A senior perk: painting their reserved spaces in the school’s parking lot.

The field of football dreams and past glories- 2014 State Champions.

The team ‘s nickname and mascot: the Bombers.

Warmups.   RCHS had about 30 varsity players; Lafayette about twice that number.  Many of RCHS’s better athletes play both offense and defense.

It was senior night.   The Bombers have only five members from this class.  As the coach stated: “I play a  lot of underclassmen who only show peach fuzz (not started shaving).”  Honoring the five:

Entering the field for the game via the Bomber tunnel:

Stands not quite full.

The band presents their pregame show to the music of Mussorgsky’s  Pictures at an  Exhibition. Halftime will be used to honor all sporting seniors.

The Difference from My Era

So far the evening was similar, albeit more modern in technology, to when I was in high school.  The special occasion for this game was recognizing every senior who had participated in a varsity sport during their four years of high school.

The halftime program featured each senior’s recorded talk while walking out of the Bomber mascot with their parents.  The players’ audio summaries included their sport teams, other school activities (Sunshine Club, FFA, etc) and post high school plans such as college or other career options (eg. lineman , CDL training, or the army).

A picture that captures this entire group of at least 50 athletes escorting their parents shows a major difference from my high school days.  Sixty years ago there were just three boys sports and no athletic teams for girls in high school.

If you look closely at the photo below, more than half of the senior athletes are girls.  Rensselaer has ten teams for them:  Volleyball, basketball, tennis, cross country, track, softball, soccer, swimming, golf and yes, even wrestling.

I guess that helps one understand how  both a former football coach and a woman now run as one team for the highest political offices in America.

Change often starts at the grassroots sometimes next to farmers’ fields.  From these opportunities we develop our self confidence and aspirations for who we want to be.   The Friday Night’s experiences are now open for all of us.

PS:  For those interested in the outcome, RCHS lost 34-7.   However the players’ intensity and fight never wavered.

 

 

 

Learning about Duty- The Example of “Grandpa” George Morgan

In my 62nd Rensselaer high school reunion last week,  I saw again some of the benefits of living in a small, rural community.

The concept of duty to others. one’s community and the country is often experienced early in life.  While there are many organizational and institutional practices that present this concept, I believe personal example is often the most powerful teacher.

Duty to country in times of war is one of our most hallowed civic commitments.  Growing up, the draft made this a potential obligation for all.  Military service was widely recognized.  In the Jasper County historical record from 1900-1985 there is a brief description of the First Presbyterian Church. The article points out that the first post WW II minister called was a former Navy Chaplain.  One of his initial acts was to make a  list of the forty-three members who had served in WW II.

That seemed like a large number.  However the local library found the Jasper County Veteran’s office had a list of 1,295  men for WWII that had the DD214 (discharge from active duty) form on file. The Service Record Book of Men and Women of Rensselaer, Indiana and Community maintained by the local American Legion Auxiliary Dewey Biggs Unit, shows a total of 1,814 who were on active duty.

Jasper County’s last Survivor of the Civil War

I believe that personal example whether a family member, mentor or public individual has a great influence for how one considers duty to country especially in times of conflict.

An example of this service calling is the life of George Morgan, who died on April 16, 1945.  His obituary called him the Last Survivor of the Civil War.  According to records 935 men from Jasper County enlisted for the Union, from a population of 5,000.

And when comparing the proportions of men able to fight, Indiana contributed more soldiers than any other state to the Union.[14]

Following are excerpts from Morgan’s obituary by Lefty Clark the editor of the local daily, the Rensselaer Republican and republished in Vintage Views.

George Morgan, who left Rensselaer that sunny August 11, 1862, as a lad of 14 and one half years to lend his bit toward the preservation of a nation torn by internal strife died at the home of his daughter at an early hour Sunday April 15. . .

One day little George, not yet possessed of the beard that distinguishes the man, made his way to a recruiting office  and by a little hedging and evasion of questions, and self-admitted fibbing managed to make the recruiting officer believe that he was ready and well able to assume the burdens of a soldier.  George Morgan at the skimpy age of 14  and one half years was now a man and a soldier at that.  He had a uniform to prove it to his parents when he returned from hi stealthy visit to the “recruiting man.” It is not chronicled that any gret storm of disapproval came from the parents. . . 

Time’s haze prevents a complete description of his military career, but the unit was not too long in Laporte.  It was sent into the Tennessee Campaign wafter some duty in Kentucky.  “Grandpa” was a participant in the Battle of Chickamauga where the Union toll was heavy but its ranks victorious.  Following that there came many minor skirmishes for Little George Morgan and his comrades nd weeks of guerilla warfare with the sniping breaking out sporadically. 

And so it went through the years of 862, 1863 and 1864 andinto the final months of the war.  The kid of fourteen and one half years not approaching 17 was keeping right up with the rest of the veteran trooper as the triumphant 87th regiment joined Sherman’s March to the sea.  It was at a military center near Washington D.C. that Mr. Morgan received his discharge papers on June 10 following the cessation of hostilities. . .”Grandpa legged it for home via a box car assigned for the transportation of troops.  He finallyed arrived in Indianapolis after a laborious journey and from there rode the “covered cars” to Bradford after which he staged-coached to Rensselaer. 

The first thing he did after reaching Rensselaer he would say, “I struck right out for home across the fields, at a dog trot, and did not stop till I reached the house.”  He said he started shouting when within range of the house, but his booming call brought no answer.  The house was empty so he started for the field.  He discovered his mother picking strawberries.  “I got me a great big bowl of freshly picked berries, stopped at the milk house and got a pitcher of cream, helped myself out of one of the containers of the sugar bag and went to work.”

The county’s last Civil War Veteran now came to town to find himself a job of work.  In those formative industrial years, he was a blacksmith’s apprentice and then a full-fledged blacksmith.  However, his is bet known fas an artisan who worked at wood working, carriage making and carpentry.  And there was a long period that he was a millwright at what ws the Babcock Hopkins elevator in Rensselaer. . .

Mr. Morgan married Mary J. Morris of Rensselaer on July 27, 1870. . .

It is interesting to note that Mr. Morgan once saw the immortal Abraham Lincoln wen the troops were reviewed by President Lincoln near Washington D.C.  it is also interesting to note that Mr. Morgan died on the day that Franklin D. Roosevelt was being buried.    He participated in all presidential elections from 1872 on.  He cast his first such ballotin 1872 for Ulysses S. Grant, his commander during the Civil War.

Mr. Morgan was the sort of the personal property of every RensselaerIan.  He became known as “Grandpa.”  All loved him.  . . A kind man, a courageous man, s msn colored with the romantic days of the wilderness and with the present day.  He was idolized and cherished as the last representative of the treasured race of man-the Civil War soldiery. . .

One Person’s Life of Duty

So honored was “Grandpa” Morgan that the local newspaper would publish periodic updates on events in his life.  A July 1, 1890 a front page article reported that he had been granted a pension.   The story noted that he was the youngest of the three Morgan brothers to volunteer and concludes with this statement: “Although so young he was a thoroughly good soldier and never shirked his full sized share of the hardships and fighting.  He well deserves the pension he gets, and a good deal more.”

On February 14, 1945, the Rensselaer Republican’s  front page story was headlined, Time Marches On, So Does Grandpa.   It was Morgan’s 97th birthday.

Morgan’s life of duty: A person of 14 who volunteered for war, raised a family. worked in the community and voted in every presidential election from Grant to FDR.

In Rensselaer we saw and experienced first hand, daily, persons who lived responsively for their families, community and country.  It is these examples we all knew and helped shape who we would become—with our own personal sense of duty.

 

 

 

 

Jesse Owens’ Two Visits to Rensselaer

The first visit was on Friday December 17, 1937 at the National Guard Armory where he brought the professional basketball team, the Cleveland Olympians to play the Peerless Athletics from Lafayette.

The second was on April 16, 1959 to address the annual Hi-Y (high school YMCA) banquet in the Fellowship Hall at the Methodist Church.  My dad had invited Owens to speak.  I attended the event along with many of my high school sophomore classmates.

Owens’ Brief Biography

There are two extraordinary athletic achievements by Owens that are still celebrated today.

On May 25, 1935, he set three world records and tied a fourth in a span of 45 minutes during the Big Ten meet at Ferry Field in Ann Arbor, Michigan.

At the 1936 Olympic games he won four gold medals in three individual events and as a member of the 4 by 100 relay team.  This triumph has been memorialized in numerous films which celebrate a black American’s triumph in front of Hitler and his belief in the superiority of the Aryan race.

After the games, the entire Olympic team was invited to compete in Sweden. Owens decided to capitalize on his success by returning to the United States to take up some of the more lucrative endorsement offers. United States athletic officials were furious and withdrew his amateur status, which immediately ended his career.

Owens was angry and stated that “A fellow desires something for himself.” He argued that the racial discrimination he had faced throughout his athletic career, such as not being eligible for scholarships in college and therefore being unable to take classes between training and working to pay his way, meant he had to give up on amateur athletics in pursuit of financial gain elsewhere.

Owens struggled to find work and took on menial jobs as a gas station attendant, playground janitor, and manager of a dry cleaning firm and at times resorted to racing against motorbikes, cars, trucks and horses for a cash prize.

He was prohibited from making appearances at amateur sporting events to bolster his profile, and found  commercial offers had all but disappeared. In 1937, he briefly toured with a twelve-piece jazz band and made appearances at baseball games and other events.  Hence his trip to Rensselaer.

While in town he gave free autographs at the Rensselaer Republican’s news office.   During halftime at the basketball game he put on a running exhibition.  One youngster recalling the event years later said, “it was absolutely amazing, the speed Owens possessed.”

The Second Visit

Owens tried to make a living as a sports promoter, essentially an entertainer. “There was no television, no big advertising, no endorsements then. Not for a black man, anyway.”

Owens ran a dry cleaning business and worked as a gas station attendant to earn a living, but he eventually filed for bankruptcy. In 1966, he was successfully prosecuted for tax evasion.

At rock bottom, Republican President Dwight D. Eisenhower enlisted Owens as a goodwill ambassador in 1955 and sent him to India, the Philippines, and Malaya to promote physical exercise.  He also promoted American freedom and economic opportunity in the developing world.

Rensselaer’s 1959 Hi-Y banquet celebrated the service club’s students’ role in the community.  There were two groups, the seniors with dates and the junior Hi-Y members with their dads.  The Rensselaer Republican’s account of Owens’ remarks is brief.

“Mr. Owens told many of his experiences then made a dramatic appeal to the young men of the Hi-Y organizations to assume positions of leadership in the community for which their Hi-Y work prepares them.” 

Two Appearances, 22 Years Apart-Did They Matter?

Owens’ first appearance was as an entertainer trying to make a living in a segregated world cut off from the traditional sources of support for other Olympic athletes.  A local family of three generations, the Bausmans, connects these two events.

Slim Bausman, the grandfather, was a successful high school coach who took his son “Dode” to see Owens run at a meet in Soldier Field in Chicago.  Dode was an exceptional athlete who set the Rensselaer high school record in the 100 yard dash at 10.2 seconds that still stands today.  And just one second slower than Owen’s world record of 9.2 seconds.

Dode and his son, Gordon, attended the 1959 banquet at which Owens spoke.  Not as an entertainer, but as a representative of core American values and leadership.  Rensselaer had no black families.  The idea of civil rights and school de-segregation had no immediate resonance for this rural farming community.   Rather he was there expressing the best of what America could be.

Did Owens’ visit in 1959 make a difference?  Two years ago after another reunion,  a classmate, Dale Garriott, sent an email asking if I recalled when Owens came to Rensselaer—and how my Dad had taken all of us to the dinner.  Did I remember anything about the event?

At last week’s reunion I found the Republican news article and an earlier description of Owens’ first visit in Vintage Views, the publication of the Jasper County Historical Society.   At our Saturday evening dinner I sat with Gordy Bausman who still lives in Rensselaer and confirmed his father’s track record—but admitted the time had been equaled by three later runners. He also recalled the Hi-Y banquet.

Examples of sports excellence and more broadly leadership success, can leave a lasting impression on upcoming generations, especially when the speaker comes from a big city, like Chicago, to a small town.  It’s a special deal.

Another name stands out from the news article.   He was a senior, who gave the invocation as the Chaplain for Hi-Y. and sung in the boys quartet that evening. Richard Scharf lettered in all three high school sports-football, basketball, and track.  He was admitted to West Point, retired as a US Army colonel, completing 27 years of commissioned service. He earned a Master’s Degree in Civil Engineering and Economic Planning from Stanford University and was involved in architectural engineering and construction for 15 years.

In the an article on his later career, he announces his candidacy for a seat on the Dawson County Board of Commissioners, Georgia with this statement:

Scharf is also interested in the welfare of our next generation. “We need to ensure that we make provisions for the young people in the county,” he says, and asks, “How do we give them some options for the future?” 

A native of Indiana, Scharf says that he grew up in a small rural community, the son of a college coach and athletic director and, while he’s not a farmer, he “understands the rigors of those who provide for the rest of us.” 

As a board member, I will be an active and focused team player, able to add an experienced rational outlook on the infrastructure challenges we are facing and help the board remain focused on the community’s future. My goal is to do the right things to achieve long-term community viability.

An example of a leader’s ongoing contributions that Owens had spoken to, formed by his Rensselaer experiences.

 

 

 

Rensselaer’s  Welcoming Wagon

What makes a community for most is finding groups and activities  to which one can belong.  From the initial days as a Brownie or cub scout, to the morning coffee conversations at a local café in retirement, finding social connection makes life worth living.

In my recent high school reunion, some classmates meet for coffee every morning around the old St Joe College fountain on the edge of town.  Others volunteer at the library, the Historical Society or still attend church on Sundays.   Being with others after raising families or a lifetime of work is vital to one’s well-being.

The Founding of the Welcome Wagon

In November 1957 the town of Rensselaer formalized the process of welcoming new residents in an inaugural meeting forming a Welcome Wagon Club.   The monthly meetings were to greet the newest members in town and introduce them to some “pioneer” residents who could brief them on getting to know the city in a minimum of time.

The meeting was led by the club’s Hostess, Marietta Henry, a community leader who presented the newly formed organization’s  purpose.  Then several representatives described different aspects of the town.  George Long (owner of Long’s Drug store) gave a history of the city’s past.  Then Mayor Hanley talked about present-day Rensselaer.   Rev. Charles W. Filson (my dad) welcomed the group on behalf of the city’s churches.

The sixty-three attendees, most wearing their Sunday best, were then photographed with all the names listed below the picture.  In the foreground are welcome baskets filled with items from the town’s local merchants.

The Importance of  Being Welcoming

In many ways Rensselaer was and is a stable community.  Change does occur; however the economic farming base and land ownership does not lead to dramatic population turnover either in or out.  Bringing in new residents is still key to maintaining a viable economic and diverse demographic social base.

The Welcome Wagon is a concept inspired by the Conestoga “welcome wagons” that provided food and water to travelers moving west.  The concept was the basis for the organization founded in Memphis, Tennessee in 1928 by Thomas Briggs, Think of the Welcome (Wells Fargo) Wagon song from the Music Man which greeted Harold Hill’s band instrument delivery into town.

Small towns are more intimate than cities and suburbs.  Everybody knows most everyone else, or if necessary, someone who does know them.   Family history and connections will go back for three, even four generations.  One of the organizers of our reunion, where we are all at or near 80, still visits her mother daily who is 102.

Local  community groups and activities provide a grounding that can prepare one for life and importantly, opportunities beyond a small town.  For it is the values,  commitments, mentors and work ethic that will settle in and carry one into the bigger world beyond.

The learnings essential for life and a worldly welcome wherever one settles down are an enduring foundation for the graduates of small town America.

 

 

 

 

 

You Can’t Go Home Again

Or so said Thomas Wolf, the novelist.   But you can visit with the perspective of years and see what makes small towns in the Midwest a special place in many people’s lives

I just returned from my 62nd high school reunion in Rensselaer, IN.  A journey of nostalgia but also discovery and learning.  While I only lived there for five years, from middle school through the first 21/2 years of high school, they were formative in ways one can only see later.

At the moment two Vice Presidential candidates talk about their small-town roots.  One does so with joyful remembrances of people knowing and looking after each other.  An experience of community that orients one to what matters in life.  The second is a somewhat darker story of the problems and poverty in rural America.

My return visit was filled with multiple conversations with people continuing to make this farming town of around 5,000 a place for understanding how community matters and its role in instilling the  special American spirit of enterprise and duty.

I will share events such as the Friday Night Lights Senior recognition during half time at the Bomber’s football game vs. West Lafayette; the two visits Jesse Owens made to Rensselaer ; the grave of the first woman ordained in any part of the Methodist church in 1866; and Brigadier General Millroy who criticized the Union’s West Point Generals at the battle of Bull Run apparently in the presence of the President and the Secretary of War, Stanton.

The Worldly Education of Small-Town Life

Rich Kupke is not a name that readily comes to mind unless one recalls he was one of over 100 American hostages held for 444 days in Iran.   He came back home to a hero’s welcome in Indiana.  After retiring from the State Department he settled in Rensselaer where he had grown up and graduated from high school.

His return to Rensselaer is explained in this article about his post hostage  life:  Former Iranian Hostage Relishes Quieter Life Today

Even after his Iranian captors finally released the hostages in early 1981, Kupke continued working overseas in Thailand, the Philippines, Costa Rica, Jamaica and Mexico. “I was one of the first who went back overseas. The type of people I worked with, being an ex-hostage wasn’t a big topic that came up all the time,” he said. “It helped not to make it bigger than it was. I always disagreed with the psychiatrist who talked about post-traumatic stress happening five to 10 years later. I told him he was planting that in people’s minds. He got mad at me for disagreeing with him.”

If there is one lingering effect for Kupke, it’s in the way he’s often presented to new acquaintances in Rensselaer. “I’m often introduced as, ‘The former hostage in Iran.’ But most people go out of their way not to have me rehash the whole story. That’s a nice part of being in a small town.” 

Divorced in 1991, Kupke has been a single father ever since to his two sons. The three of them lived together in Jamaica and Mexico, but when the boys neared high-school age, their father figured there was only one place to continue their worldly education. “I was born here and went to high school here, and I thought it would be an excellent place for my boys to go to school. Back home in Indiana,” he said.

In addition to watching over 15-year-old James and 14-year-old Bill, Kupke keeps busy as a volunteer driver for Meals on Wheels. He also works part-time six days a week at the Jasper County Animal Shelter while waiting to hear about the possibility of returning to a stockbroker position. The only connection to his State Department days is the book he started writing a few months ago — a fictionalized account of a foreign service officer who faces one dramatic situation after another while traveling from country to country, based on his own experiences.

“Rensselaer is just an outstanding place to live. I couldn’t have made a better decision,” he said. “My life is a little slower these days. I don’t need to rush. I’m taking time to smell the daisies. Or is it the roses?” 

Life and Truth in It

Maybe quieter in some respects but life is no less purposeful.   Rensselaer epitomizes being in a community.   For it is in living with others that we find meaning and self-worth.

Thomas Wolf wrote:  Telling the truth is a pretty hard thing. And in a young man’s first attempt, with the distortions of his vanity, egotism, hot passion, and lacerated pride, it is almost impossible. “Home to Our Mountains” was marred by all these faults and imperfections…[Webber] did know that it was not altogether a true book. Still, there was truth in it.

I will share some stories of individuals shaped by this small town experience. One is about the Rensselaer High School Senior in 1937 who set the school record for the 100 yard dash, which still stands at 10.2 seconds. He met with Jesse Owens in 1937.  His grandson attended a Hi-Y banquet in 1959 at the First Methodist Church where Owens was the featured speaker, 22 years later.   Or the obituary of the last surviving Rensselaer soldier from the civil war who volunteered at 14 in 1861 and died in 1945-a sense of duty that carries on still today.

Credit Union Mergers: The Final Solution?

A post by Jim Blaine from his blog of May 15, 2024, used with permission.

      Credit unions are changing…

     … and disappearing.  

Badin Employees Federal Credit Union used to be tucked up against the Uwharrie Mountains on the banks of the Yadkin River, about 40 miles east of Charlotte – the hometown of banking giants Bank of America,Wells Fargo and Truist.

The Uwharries are thought to be the oldest mountains in the U.S. These mountains are well-worn and rounded; the Rockies they ain’t! Uwharrie is an old Indian word. It’s a bit tricky to pronounce, much like La Jolla, Yakima, Albuquerque, and Butte. “Yew-whar-eee” is correct;  “you’re hairy” is not.

https://asset---north-carolina.bldg15.net/img/4/f/4fc74af4-b323-4065-ab53-b09cd8dcf5dc/Stanly%20County%20-%20Morrow%20Mountain%20State%20Park%20Overlook-crop(1,0.636,0.000,0.334,r4).4e964e48.jpg Been searching for years for the original Indian meaning of that name. Recently, a friend told me he knew the origin. He said, it’s in the dictionary: “Uwharrie” means “unknown”. Really?

Asked him for a copy of that reference for my files. Sure enough, the following week, in came a copy of the dictionary definition. It said: “Uwharrie – adj., probably from an ancient tribal name; meaning unknown.” Perhaps I just need to pick better friends….

Badin is a company town. In 1917, Alcoa dammed the Yadkin River to generate hydroelectric power for a new aluminum ingot plant. The lake and town which sprang from those efforts are quietly picturesque – but, all things revolved around the plant. Driving into town, down Falls Road, under an unwashed denim sky, is a journey home, a journey back in time The town is just two blocks long, but makes the most of it.
 

https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgJW7_EMEcjRpmN0ZOPoAThGYDe3adg0LwJUC1ovwporaTB_k2MZsBzxtXA_Fhc0QdNT0WQcC78VQJzIyOO2hA88MSEEb_WnDoyD1s6e4cXq_wwL2wRK6-urANV7w4k2713cqHXm67R_a8/w1200-h630-p-k-no-nu/IMG_3451.jpg “Downtown” the candy-striped awnings and improvised handicap ramp of Badin Town Hall and Police Department adjoin the Masonic Lodge #637. Then comes the post office with its single window, fleet of post office boxes, and well-used community bulletin board.  Shading the post office is Memorial Park, flanked by a cedar tree honor guard for the seven Badin soldiers who died in World War II. And, out of sight up a short dirt road, is the best named roadhouse on the planet: The Bottom of the Barrel Disco and Cafe; now vacant, having recently burned to the ground.  Bet that last party was a great one. Sorry to have missed it!

But, the center of attraction in town was the Badin Employees Federal Credit Union. The Credit Union was housed in a one story, red brick building with blue shuttered windows and a bright, “no-way-to-miss-it”, burgundy door. The Credit Union always closed for lunch from 12:30 to 1:30 pm, but you could sneak a look into the office through the partially drawn, real-wood Venetian blinds. It was a comfortable, inviting looking place. The kind of place you could sit a while, have a cup of coffee, talk to the manager, y’know think it through a bit.

Badin Employees Federal Credit Union was prosperous with assets reaching $4 million, capital 18%, loans available to all, delinquency negligible. Everyone in town was a member; no local banks remained. Badin Employees FCU had achieved “market dominance” without ever spending a penny on “engagement, member experience, or passions of self-importance”. The “word around town” took care of all that. Yep, folks in Badin had a strong opinion about their Credit Union. They were the kind of folks – as you might suspect – who didn’t need “thought leaders”“X”, or talk radio in order to form an opinion!

https://i.pinimg.com/736x/41/5b/88/415b88882030af28aaba824deda36369.jpg The beauty of Credit Unions used to be something you couldn’t easily wrap, bottle, or “spin”.   Badin FCU is no longer there to make a difference – gone the way of merger. There are no longer any banks or credit unions in Badin. The aluminum plant, too, is gone.

… are we getting close to the Bottom of the Barrel on a lot of important things in our Country, including credit unions?

Observations Continued. . .

Mark Twain

Some people bring joy wherever they go, and some people bring joy whenever they go.

On Political and Policy Leadership

Reducing complex issues, global power politics, and any public policy into one sentence is not conducive to the civility, magnanimity, and intellectual processes needed for a free society to flourish. Doing so performs a double disservice, in that even while it redirects one from issues to personalities it also kills the search for truth by ignoring the need for real arguments, even ones made with magnanimity.

The human mind was created to seek and know the truth, and to find pleasure in it when it is found. Democracy requires compromise, and compromise requires the two virtues lacking most in American society–prudence and humility.   (Source:  The Imaginative Conservative)

How New Board Members Feel

A little girl had just finished her first week of school. ‘I’m just wasting my time,’ she said to her mother. ‘I can’t read, I can’t write, and they won’t let me talk!’

Interdependence, Climate Change and Human Domination

If humans didn’t exist at all, life would continue on earth. Let’s not flatter ourselves: biologically speaking, the earth does not need us to tend and care for it. Life on earth existed for eons before we arrived. Have we made the earth better by our arrival? 

 

 

 

 

Observations from Within and Without

How credit unions changed America’s financial Options

Credit unions reclaimed the idea of community versus total reliance on individual effort.  Its understanding that everyone matters and that everyone should have a chance at financial equity became a central premise of  American democracy.

Cooperative economic power changed the entire consumer financial fabric of the country.   Its opponents, external and internal, have worked to eliminate it ever since 1909 and 1934 put the option in play.

A CEO’s Favorite Leadership Quote:

From Colin Powell: ‘The day soldiers stop bringing you their problems is the day you’ve stopped leading them. They have either lost confidence that you can help them or concluded that you do not care. Either case is a failure of leadership.’

On the Value of Small Institutions

What we don’t emphasize to kids, but we learn as adults, is that while the smallest animal may be crucial to our survival, it almost always ends up dead, swallowed up by a bigger inhabitant of the neighborhood.  Henry C. Meier

Future Forecasting

If you want to see the future of any movemen don’t look at its buildings or financial resources. Go look in the mirror and look at your neighbors.  Every movement’s purpose is sent into the world in human envelopes.

 

 

 

Tonight’s Presidential Debate and “Equal Time”

There are many more critical topics on voters’ minds in tonight’s debate than how the two candidates view the contributions and financial role of credit unions  in the American economy.

Two  weeks ago I posted a blog with Vice President Harris’ remarks from an April 2023 Treasury CDFI award  announcement:

When we invest in community lenders, we help build a future where all people—no matter who they are or where they start—have the resources they need not only to succeed but to thrive.

“These grants—representing the largest CDFI grant program in history – will enable hundreds of community lenders to invest in small businesses and entrepreneurs, and also provide home loans for families, financial services for local nonprofits, and capital for community organizations.” 

Over $590 million was awarded to 203 credit unions which was 34% of  total funding.

I stated if someone had an example of President Trump’s involvement, I would be glad to give equal time.   I received a response  the same day.

President Trump’s February 2018  Meeting with Credit Unions

 

The following text and a NAFCU article link are from Richard Harris, the retired  CEO of Caltech Employees FCU:  Although the attached article  is not a formal statement from former President Trump, it however, was perhaps the first time a sitting President engaged directly in person with credit unions. I was honored to represent the group as then Chair of the NAFCU Board of Directors. 

In addition to Richard  and the Presidents of NAFCU and CUNA,  several other CEO’s  present included:

Jeanne Kucey ,CEO of JetStream Federal Credit Union); Jim Kenyon, CEO of Whitefish Credit Unionairlines, Tyrone Muse  CEO of Visions Federal Credit Union;  Angie Owens president of American  Federal Credit Union; and Lynette Smith CEO of Washington Gas Light Federal Credit Union.

Cedit Unions and President Trump in the Roosevelt Room of the White House (February 2018).

The NAFCU article outlines several items discussed.   Richard’s description of the event: “He started the meeting by going around the table and having each credit union CEO tell who they served in their FOM and a little bit about our credit union. 

 Who were our members? How were we financially helping our members?  We went around the whole table. The President also had Gary Cohn, his economic advisor at the time, and his Chief of Staff, General Kelly, attend the meeting with us. The meeting lasted approximately one hour as I recall.

I was quite impressed with the President’s engagement with us.  Regulatory burden was the primary topic of discussion.”

Harris  continues:  “At the time, deregulation and the perceived overreach of the CFPB were front and center. The Trump Administration was actively seeking support from banks and credit unions to get behind their legislation and advocate to Congress for passing deregulation legislation. “ 

President Donald J. Trump meets with Credit Union Representatives in the Roosevelt Room at the White House, Monday, February 26, 2018, in Washington, D.C. (Official White House Photo by Shealah Craighead)

“This meeting did not take place in conjunction with any other credit union gathering in Washington DC. It was hastily arranged and the participating credit union CEO’s needed to fly to DC with little notice.” 

I asked Richard if NCUA came up:  “There was no reference or discussion on NCUA or any of his appointees. His interest seemed to be very focused on how he could help the consumer, in this case our members. “

The Importance of Your Vote

At this stage of 2024 election, pundits estimate less than 7% or fewer are undecided about whom to vote for.   Many will tune into tonight’s debate to firm up their views for Trump or Vice President Harris.

The two topics cited in the excerpts above are traditional party themes:  democrats’ support for investments in community development and republicans’ promise to reduce governmental regulation.

These examples  show credit  unions have had some visibility with  these two candidates in the past.  In this very close contest it might even be possible that credit union’s unique purpose earns a shout out from one political team or the other.

Credit union professionals are probably as divided as is the country for whom they support.  The critical point is  that every vote matters.

Whatever your presidential preference, urge your members to exercise their most important democratic right-their vote.