T.R | Title | User | Personal Name | Date | Lines |
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769.1 | | CVG::THOMPSON | An other snowy day in paradise | Tue Mar 08 1994 11:11 | 32 |
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> I understand that I'm an 'owner' of the credit union, but I'm also an
> 'owner' and an employee of DEC. Is there a similar effort underway to
> scrutinize the running of Digital Equipment Corp, and make
> recomendations on how it should be run? I'd like to see that company
> run better, and return to profit, instead of all the fuss about the
I too am an owner of both Digital and DCU. The difference is that I own
a handful of shares out of hundreds of millions of shares of Digital
while I own one of only 7x,xxx shares of DCU. So I have a bigger piece
of DCU.
An other difference is that I see real potential to effect change in
the DCU. DCU board members take my calls and answer my mail messages.
While I haven't tried, I suspect that Bob Palmer and other members of
Digital's board of directors would not take my calls and would have
my mail answered, if at all, by a secretary using a form letter. I
can, and have, run for the board of DCU. I can't imagine coming up
with what it would take to run an outsider campaign for Digital's
board.
Red Auerback (of the Boston Celtics) has said "Pick fights that are
big enough to be worth it and small enough to win." While I believe
there are times and principals worth ignoring that guideline, in
general I believe that's the way to go. Making DCU better is a fight
that I believe can be won. Someone can make Digital better but I'm
not sure I have the power to do it. If, however, someone starts an
effort to change Digital for the better and shows me a plan that can
work I will be happy to join in. I'd really rather Digital not go the
Wang route in the 90s. (Where it seems to be heading now.)
Alfred
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769.2 | | WLDBIL::KILGORE | Time to put the SHARE back in DCU! | Tue Mar 08 1994 11:37 | 47 |
769.3 | | NASZKO::MACDONALD | | Tue Mar 08 1994 12:06 | 24 |
|
Re: .0
You ask a good question. For me, it is two things.
First, it's the personal outrage I feel at being treated with
contempt by persons who, when you come right down to it, work
for me. We, the members, own the DCU. There's something wrong
when the tail tries to wag the dog.
Second, it's the experience we all can share about what it feels
like to deal with a company that treats its customers that way.
I spent five years as a product manager during the early '80s.
I got my ear chewed plenty by customers who felt that way from
trying to do business with Digital. In my mind, if enough of us
who are trying to deal with the DCU can then use that experience
to understand what our customers have been trying to tell us for
ten years or more, there's a very good chance that will produce
enough critical mass to effect some very needed changes in the
way Digital operates.
fwiw,
Steve
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769.4 | the CU is a reflection on Digital | SLPPRS::SCHAFER | Mark Schafer, Development Assistance | Tue Mar 08 1994 12:43 | 15 |
| Kevin,
I'm not an advocate for the credit union, don't take sides on most of
the issues here. But I am concerned about the fallout from the credit
union "squabble" on Digital Equipment Corporation. Like many others, I
joined back when the company was growing and the credit union was a
"plus" for the employees. When the economic down-turn hit, Mangone ran
off with the money and left a mess that still hasn't been completely
resolved. It contributes negatively to employee morale, and I'm afraid
that Company resources are taken up with credit union matters (I'm
referring to the meeting that Mr. Glover held). As an employee and
stockholder of Digital I should be concerned about DCU, even if I were
not a member.
Mark
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769.5 | | ASE003::GRANSEWICZ | Candidate for DCU Director | Tue Mar 08 1994 12:59 | 15 |
|
RE: .4
Mark, I think DCU's attitude and approach has much more to do with
contributing to any negative morale much more than a healthy debate
during an election on the direction of the credit union. There is no
"squabble". There are simply different points of view being expressed
just as they are expressed in thousands of other conferences on a daily
basis.
I've seen MUCH more negative morale expressed in the DIGITAL
conference than here. As Bill says, at least with DCU, members DO have
a chance to positively affect the institution. Empowerment is rarely,
if ever, a way of negatively affecting morale.
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769.6 | Simply incredible. Chuck and Co. have to go... | SCHOOL::KOPACKO | | Fri Mar 11 1994 17:17 | 7 |
| > -< What's all the fuss about? >-
Kevin,
If for no other reason, note #777.0 is certainly good enough.
Ray
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769.7 | I speak for a lot of us | NEST::CESARIO | Vinyl Dinosaur | Fri Mar 11 1994 19:34 | 13 |
|
A profitable credit union should be able to offer lower rates on
loans and higher rates of interest on deposits than do banks.
Ours used to, but doesn't any longer. Instead, we get fees for
some members based on their moving-target "relationship" with DCU.
Meanwhile, the DCU employees enjoy bonuses for coming in over budget.
I, too, feel that my vote can make a difference, can elect a BOD
which truly represents the members and can turn this "bank" around.
Meanwhile, I keep my "placemark" accounts open and put my money in
other institutions with a better ROI.
Lou
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769.8 | | NEWVAX::PAVLICEK | Zot, the Ethical Hacker | Sun Mar 13 1994 02:43 | 36 |
| re: .7
> A profitable credit union should be able to offer lower rates on
> loans and higher rates of interest on deposits than do banks.
This is what I think of when I use the word "competitive".
> Ours used to, but doesn't any longer. Instead, we get fees for
> some members based on their moving-target "relationship" with DCU.
This, apparently, is what DCU considers "competitive".
Anyone else get the feeling that the term "competitive" has been
redefined at DCU to be a synonym for the term "mediocre"?
Why is the DCU exerting so much energy to become so mediocre? My local
bank has free checking, plenty of convenient branches, evening and
Saturday hours, numerous free ATMs, similar savings rates, etc.
I've never gotten a letter from my local bank stating that "I" made a
mistake when I opened accounts for my children a few _years_ ago.
When I checked out the local competition a couple of years back, I
found other banks which compared favorably to DCU as well.
And yet, it appears that certain groups within DCU are fighting hard to
maintain the current trend of total mediocrity -- even to the point of
driving away those with low savings balances. And few ever seem to
notice that these folks are precisely the key to raising the sacred
ratio to 8.5+%. These are the people -- those who have little funds on
hand -- who are most likely to go for the loans that will counterbalance
the savings figures and raise the sacred ratio. But, the goal of
mediocrity has deemed them expendable, apparently.
Sad. Very sad.
-- Russ
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769.9 | | EOS::ARMSTRONG | | Sun Mar 13 1994 14:12 | 14 |
| 'Competitive' is an interesting concept.
I'm trying to imagine how long I would remain a member of
'Costco' if their prices were just 'competitive'.
I have to laugh everytime I hear an Ad that claims a store
will match any price....if I'm in a store selling an item from less,
I'll buy it from that store and be done, and not go back and try to get
the original store to match their price.
DCU has a selected, responsible, VERY valuable membership that
consistantly performs at a default rate far below industry norms.
Merely 'competitive' just doesn't cut it.
bob
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769.10 | BeST? | SPECXN::WITHERS | Bob Withers | Mon Mar 14 1994 03:05 | 47 |
| Bob,
This is an interesting aspect to the DCU pricing question, and one I hadn't
thought of before, but last year I went shopping for a booster-seat for my
daughter to ride in on the way to school. I made a list of places I wanted to
shop, from South to North. It was a nice day, so I stopped at all the choices
while breathing the mountain air and enjoying life. Several places had what I
wanted and I noted the price. BTW, all had the "We Will Not Be Undersold"
attitude.
The day ended and I was in the northernmost place. They were $10 more than a
warehouse store six miles south. Not minding another six-mile drive, I went to
the service counter at BeST (I'm not making this up) and said I saw the same
car seat at Sam's for $10 less. The manager at BeST called Sam's to check the
price and immediately discounted the car seat $11. I bought it right there
right then.
I think this sounds like a Ken Olsen parable, but the point is to be made about
banking services. How many of us have run into the DCU's intransigence about
waiving the VISA fee or the Holiday Club fee? The most we can ever ask for,
after self-deprecating begging and pleading is to get an ATM fee waved when the
DCU's ATMs are down.
Your note has helped me solidify my opinion. I want the dEfCU to be the BeST.
BobW
>================================================================================
>Note 769.9 What's all the fuss about? 9 of 9
>EOS::ARMSTRONG 14 lines 13-MAR-1994 11:12
>--------------------------------------------------------------------------------
>
> 'Competitive' is an interesting concept.
>
> I'm trying to imagine how long I would remain a member of
> 'Costco' if their prices were just 'competitive'.
>
> I have to laugh everytime I hear an Ad that claims a store
> will match any price....if I'm in a store selling an item from less,
> I'll buy it from that store and be done, and not go back and try to get
> the original store to match their price.
>
> DCU has a selected, responsible, VERY valuable membership that
> consistantly performs at a default rate far below industry norms.
> Merely 'competitive' just doesn't cut it.
> bob
>
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