Like some prehistoric animal trapped in a tar pit, Priority One seems unable to extricate itself from it's losing streak, remaining mired in the RED.
President Charles R. Wiggington's inabilities as a strategist are the main reason Priority One Credit Union continues to lose money. What's more, he often unethical and illegal behaviors have now taken a tremendous toll upon employee morale and is ebbing away at the once strong relationship the credit union enjoyed with member-owners.
To date, he has refused to post the credit union's monthly financials. This seems rather odd when one considers that he frequently claims that business has improved and is soaring. So why hide the financials which would prove if the credit union has in fact returned to a state of profitability?
During May's annual meeting, both the President and his accomplice, Board Chair, Diedra Harris-Brooks, with the help of Supervisory Committee Chair, Cornelia Simmons, expounded upon the soundness of the credit union. Their assurances amount to propaganda and are dispelled by Priority One's own quarterly Financial Performance Reports ("FPR") which confirm the credit union remains in the RED. Furthermore, there is no indication of when the Credit Union will return to the state of profitability enjoyed in the many years before January 1, 2007., the date Charles R. Wiggington, Sr. was appointed President.
We've also learned that the new COO, Beatrice Walker, was hired to create new streams of income, help reduce spending but above else, identify those employees who are divulging confidential information that is finding its way to the Internet and more specifically, this blog. May we suggest the new COO visit the President as he is the source of almost all disclosures of highly confidential information.
The COO will receive a high salary. According to a recent comment made by Ms. Walker, this is the most she's ever been paid. Is that a breach of confidentiality? And why higher someone who is a specialist in creating new streams of income when President Wiggington has often proclaimed that he is an authority in marketing? What's more, Rodger Smock is an alleged expert in marketing, shouldn't he know from studying the credit union's diverse marketplaces what products and services would most appeal to the membership?
What is evident is that to resuscitate business, the credit union is reducing in areas that most impact employees, not management. The current wage freeze does not affect manager salaries but does impact the credit union non-exempt staff who are also the sector who are paid the least. Clearly, the President's claims that he is "working smarter" is coming at a cost to non-exempt personnel. It obviously hasn't occurred to the President that underpaying staff and not rewarding their efforts will in time, prove counter-productive.
The President continues to blame the credit union's current financial problems on his predecessor, William E. Harris, on the national economy and the state's high unemployment rate. He of course refuses to accept accountability for his many failed decisions or his voluntary immersion in scandals.
The President ignores the fact that in 2007, he appointed his friend, Liz Campos, to serve as one of four newly promoted AVP's. Four months later, she was abruptly terminated when an investigation proved she had kited- a federal offense. What's more, he ordered that she not be arrested, booked or tried.
In early 2007, he refused to perform security protocols, stating, "I don't do that. I'm the President." Days later members discovered that the envelopes he refused to review contained member account and social security numbers printed just above the name and address window.
In 2007, he refused to act proactively and quickly resolve a programming problem that disrupted the transfer of Inland Counties Postal Credit Union member records into Priority One's database. His refusal forced the credit union to spend $100,000 on corrective measures but the correct came only after many new members closed their accounts.
In 2008, an investigation obtained evidence he sexually harassed a former female employee. Because of his decision to sexually harass a former employee, the credit union hired a consulting firm to come and speak to all employees about the topic of sexual harassment.
President Wiggington is unable to reverse the cycle of losses he alone started. He lacks the knowledge needed to implement effective measures that produce new business and is at a complete loss when trying to understand the wants and needs of the credit union's diverse marketplaces. However, he has demonstrated an insatiable lust for intrigue, malicious gossip, and creating divisiveness.
Last week he was overheard complaining that he was forced to open the new Airport Branch and continuing to insist that what was most needed was a self-serve kiosk or ATM.
His insistences persist despite the fact he was told over and over and over again that members did not want a kiosk and that what they needed was a branch staffed with real people they can speak to. The heart wants what the heart wants irrelevant of what is good or beneficial.
"You can force a horse to water, but no matter how logical your efforts are, you can't make him drink it."