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Where Was the SECU Board On CAMEL Code Release?

While the CAMEL disclosure controversy shows no signs of slowing down, maybe its time for reasonable heads to prevail and allow both sides to reflect upon the fallout from State Employees Credit Unions action.

While the CAMEL disclosure controversy shows no signs of slowing down, maybe it’s time for reasonable heads to prevail and allow both sides to reflect upon the fallout from State Employee’s Credit Union’s  action.

Amid the discourse is the deafening silence from SECU’s board of directors. If their voices have been heard within the state, little comment from them has been available to those of us watching from the sidelines. May we assume that the SECU board approved the release of the CAMEL rating? And, if they didn’t approve of it in advance, why not? Or perhaps the board delegated that responsibility to the management staff of the credit union?

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Peter Westerman

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