Orange County’s largest financial institution, member owned SchoolsFirst Federal Credit Union has once again made it impossible for any of its over one million members to serve on its board of directors.
SchoolsFirst is the fifth largest credit union in the nation and will be celebrating its 90th year in 2024. Many of its members are school employees residing in Orange County.
This year four of the 13 board seats are up for re-election. If there was an election, current board of directors Eric Padgett, Marc Ecker, Matthew Schulenberg and Renee Hendrick would be on the ballot. As in the past there won’t be an election because the board makes it impossible for anyone to serve, but themselves.
To make the ballot a SchoolsFirst member must gather 500 fellow member signatures on a petition in a very short window of time.
The recent online announcement by SchoolsFirst advised members they had until February 6 to submit the 500 signatures. The signatures are required to be “affixed to a petition on or after October 1“, but the announcement was posted months after October 1 giving a SchoolsFirst member just a matter of weeks to obtain the 500 required signatures.
The announcement will be deleted after February 6 and posted again prior to next year’s election once again giving members the impossible task to collect the signatures in a short timeline. Below is the announcement.
Even if one could gather the signatures by February 6 the board’s nomination committee still retains the right to decline the petition.
Why does SchoolsFirst’s board of directors go out of their way to make it impossible for a member to serve?
One reason is the opportunity to travel all over the world to attend the World Credit Union Conferences (WOCCU). The WOCCU conferences have been held throughout Europe, Australia and Asia.
Other benefits include the annual Board Planning Session. Despite the beautiful conference room at the SchoolsFirst headquarters in Tustin, the SchoolsFirst board goes all out for their planning sessions.
This past August 3-5 the annual planning session was held at the Five Star Fairmont Grand Del Mar where even “special” room rates can exceed $800 per night during the summer high season. Along with the board members and their spouses over a dozen of the SchoolsFirst leadership team with their spouses joined the weekend festivities.
In addition to the many amenities offered at the hotel including massages in the Fairmont’s luxury spa, the opportunity to play golf at the world-famous Grand Golf Club where green fees are over $300 was available to those attending the planning session. Tee time took place the afternoon of August 4.
The weekend schedule included two full afternoons to participate in resort activities along with evening cocktail receptions followed by dinner each of the three nights. The board did schedule three planning sessions not to conflict with any activities or the golf tee time.
Expense paid trips abroad and indulgence at five-star hotels are just a few of the reasons why it’s understandable the SchoolsFirst board of directors will go to whatever lengths possible to keep their seats.
If the SchoolsFirst board believes in their member-owned philosophy and democratic elections, then they should look at San Diego’s 70-year-old Frontwave Credit Union.
Frontwave provides a democratic opportunity for all its members to serve without any obstacles. When Frontwave last opened nominations for board seats (without the signature requirement) most who applied had experience in an area of finance or management. The majority of the SchoolsFirst board are current and retired teachers or educational administrators.
Chip Filson a former executive with the National Credit Union Administration wrote about Frontwave’s board elections calling it the most “transparent, public and accountable election process… an example of cooperative democracy in action”.
If you are a SchoolsFirst member and Frontwave’s democratic elections inspire you to attend the May 24 annual meeting to let the board know you want to serve, don’t bother.
The board will not recognize nominations from the floor.
Dr. Barry Resnick retired in 2022 after 42 years as a professor of counseling with the Rancho Santiago CCD. He has resided with his family in Orange for 36 years and has been a SchoolsFirst member since 1980.
Opinions expressed in community opinion pieces belong to the authors and not Voice of OC.
Voice of OC is interested in hearing different perspectives and voices. If you want to weigh in on this issue or others please email opinions@voiceofoc.org.