SECU’s Loan Review Committee Volunteers Stay Current on Key Lending Topics.
Leigh Brady, Senior Vice President
Education Services, SECU
919-807-8344, fax: 919-807-8348
Raleigh, NC, September 16/ Business Wire –State Employees’ Credit Union (SECU) recently hosted an educational event for its Loan Review Committee volunteers who serve the Credit Union throughout the State. The meeting featured a presentation from Martin Eakes, CEO of Self-Help/Center For Responsible Lending. Other noted speakers included Tami Hinton, Consumer Affairs Director with the North Carolina Commissioner of Banks office and Mary Reca Todd, Manager of Supportive Housing Strategic Investment with the North Carolina Housing Finance Agency, along with several SECU representatives. With nearly 60 volunteers in attendance, the meeting provided valuable information on key lending topics including foreclosure prevention, mortgage assistance, and reverse mortgages.
Welcoming his fellow volunteers was Jim Barber, Chairman of SECU’s Board of Directors. Mr. Barber stated, “Educational events such as the Loan Review Committee Annual Meeting provide an opportunity for our volunteers to network with other members serving SECU, as well as stay current on lending issues that affect our cooperative. We hope the attendees found the sessions beneficial and insightful.”
2009-2010 Loan Review Committee Chair Michael Clements added, “Loan Review Committee members serve a valued role at State Employees’ Credit Union by providing members with a peer review and/or loan appeals process. While our Committee members from all across the State appreciate the fellowship at such events, the educational sessions are extremely useful in helping us to serve our fellow members more effectively.”
A true representation of a cooperative in which members are making the final loan decisions, SECU Loan Review Committees (LRCs) are comprised of up to eight members who meet periodically to review loan applications that have been denied or are under appeal by a member. LRCs offer a decentralized, member-controlled decision and appeals process for member-owners of the Credit Union. Placed in thirteen regions throughout North Carolina, LRCs help ensure that members always have a chance for a “second opinion” on a loan and an opportunity to appeal a branch lending decision. In keeping with SECU lending practices, all applications are evaluated fairly, balancing the interests of individual members with the interests of the membership.
SECU is a non-profit financial cooperative owned by its members. SECU has been providing the employees of the State of North Carolina and their families with consumer financial services for more than 70 years. Currently serving 1.6 million members, SECU provides services through 233 branch offices, over 1,000 ATMs, 24/7 call centers and a website—www.ncsecu.org.