Comment from Jim, Compton
Jim ComptonOtherIndividual
Summary: The commenter is asking a series of questions regarding the impact of the merger on Water’s Edge Federal Credit Union members, specifically concerning board representation, office closures, data security, and the distribution of net worth. The comment does not express a clear position of support or opposition to the merger.
What will happen with the existing board of Water’s Edge CU? How will the current members of WECU be protected from future adverse management decisions by CFCU? An example would be choosing to close the Biloxi office. Has CFCU experienced a data breach in the past 5 years? How many members do WECU and CFCU have? If WECU is not distributing to the members a portion of net worth, what will be the use of those funds, and the benefits to the WECU members?