Captain Clueless and His Ship with No Sails

HE REALLY THOUGHT 

NO ONE WOULD NOTICE

It's an interesting paradox that President Charles R. Wiggington, Sr. oversees the credit union's operation to ensure it performs according to state and federal laws and in adherence to credit union policy and yet it is he, who is the credit union's biggest scofflaw. He is also the reason why Priority One is no longer a competitive credit union and is currently experiencing a decline in business which the President blames entirely on the national economy, asserting that the causes for decline are out of his control. 

At the end of 2008, the credit union remain well embedded in the negative. Beginning in March 2009, the President ordered that the credit union's Monthly Income Statements not be posted despite the fact that California law, as shown below, stipulates in no uncertain terms that credit unions must post Monthly Income Statements/Balance Sheets in a visible and conspicuous location, easily accessible to all members. 

California Code of Regulations, Title 10, Chapter 1, Section 30.701(c):

"The credit union shall post copies of its statement of financial condition and statement of income in a conspicuous place in each office of the credit union or at a place convenient to the members as designated by the board of directors, where they shall remain posted until replaced by the financial statements of the next succeeding month. In lieu of posting copies of such financial statements, a credit union may post a notice in a conspicuous place in each office of the credit union stating that copies of the financial statements are available upon request, and the credit union shall make copies of the financial statements available to members upon request."  

In response to a member's complaint, the DFI recently wrote the President, reminding him that state law requires posting of the monthly issued statement. 

• The Credit Union is also currently contending with what should have been its only annual election in 2009. Unfortunately, Board Chair, Diedra Harris-Brooks, and the President disrupted this year's election by trying to control how members received notices of the impending election and the state-mandated invitation to members to nominate themselves to vie for a seat on the Board or Supervisory Committee. 

• We exposed their plot which is a violation of state law forcing Priority One to spend more money to reprint ballots and remail these members. The entire incident was avoidable had the President and Board Chair chosen not to violate state law. Upon being exposed, the two hurriedly backtrack in fear they would be reported to the DFI. 

• But their intentional disruption of the election had an effect upon this year's election. Only two members filed nominations. We believe the President and Board Chair have permanently damaged the credit union annual elections but we'll have to wait until next year to see if this in fact occurs. 

• The credit union is also hurriedly working to finalize plans to install a new small branch at the Airport Post Office. The reason the credit union is being hurried to install and open the location is because President Wiggington decided to stop all communication with the Airport Post Office's manager, Mr. Booth, and instead proceed with plans to open an automated kiosk to be located somewhere in the vicinity of the Los Angeles International Airport. Is this an example of what President Wiggington alluded to as a "smarter" way of doing business? 

The success of the new Airport Branch will be contingent on marketing and from what the President has recently disclosed, he does not intend to spend time or money advertising the location. He recently stated, "If this is what members wanted, then they should look for it on their own." 

The President also recently stated the branch will open sometime in July 2009, though he has yet to set an exact date. He originally planned on opening the branch later this month but canceled its opening because in his words, "I  don't want too many people to flood the location." He explained that he wishes to avoid a crowd of postal employees using the location as a place to only cash their checks. 

Though our hope is that the Airport Branch will thrive and grow, the President's attitude suggests he may be sabotaging it's success. After all, opening a branch at the Airport Branch was never his intent. What's more, he has said he is beint forced to install a branch when what he really wanted was a kiosk.  Remember, Charles R. Wiggington, Sr. is vindictive and childish and his current attitude is akin to a child having a temper tantrum. 

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