RALEIGH, N.C.–One of the three people who ousted an incumbent member of the board of directors at the $57-billion State Employees Credit Union in 2023 says she is resigning.
In an email to Business North Carolina, Barbara Perkins, said she will exit before the end of her three-year term in October. In the email, Perkins said she provided the SECU board with a resignation letter that said her “concept of what is best for SECU is different than the actions implemented by or in the planning stages of the board. This and other actions made me think it would be best to disassociate myself from the Board.”
Speaking as ‘One Voice’
Business North Carolina reported that Perkins declined to share her letter, citing board policy to “not speak about our discussions and to speak as one voice.”
The SECU board has named former chair Mona Moon to fill the seat through October, SECU spokesperson Sandra Jones told the publication. Moon, a former executive administrator of the N.C. State Health Plan, was an SECU director from 2016-25.
The 2023 election that led to the election of the new board members drew considerable press attention in North Carolina, where SECU has a strong presence. At the core of the disagreement was a plan by SECU to implement risk-based loan pricing after a long-time policy of the same rate for all members.
Policy Remains in Place
The world’s second largest credit union deployed risk-based pricing at the time, and the policy remains in place.
The SECU board has 11 members, with three or four seats opening each year. Approximately 13,000 of SECU’s 2.7 million members voted in the 2023 election.
