THE BI-ANNUAL ELECTION
Usually, Priority One Credit Union's and finished by April and the winners announced at May's annual meetings.. Not so this year. The election was canceled and a second election begun after we reported that President Charles R. Wiggington, Sr. and Board Chair, Diedra Harris-Brooks, cheated and limited the number of members who were invited to nominate themselves to vie for a set on the Board or Supervisory Committee.
Since being appointed President in January 2007, President Wiggington and the Board Chair have expended tremendous effort to ensure their personal agendas are realized, exceeding their authority and manipulating credit union policies to achieve their ends. Can you imagine what they could have accomplished if they'd chosen to use their powers for good instead of evil?
Not surprisingly, President Wiggington continues to refuse posting of the credit union's monthly financial statements which is a violation of state law in spite of having received a letter from the DFI reminding him that he is required to post these in a conspicuous location within every branch.
He also became rattled when former Board Director, David L. Davidson, nominated himself for vie for a seat on the Supervisory Committee. Immediately upon receiving the nomination, the irked President called Board Chair, Diedra Harris-Brooks, and expressed his discontentment over the nomination. Why so angry? Doesn't any member in good-standing have a right to submit their nomination?
The problem Mr. Davidson poses for President Wiggington is that he is ethical, possesses a background in finances and is dignified. These are all the antithesis of every thing President Wiggington chooses to be. Mr. Davidson is also the former Director who received an anonymous letter in 2007, which exposed former AVP, Liz Campos, of abusing her checking account. During the months of September 2006 through January 2007, Mrs. Campos sustained more than 24 NSF incidents to her checking account. An investigation later revealed she had been kiting- a federal offense and as a result, she was terminated though never arrested, booked or prosecuted.
BEATRICE WALKER, COO
Since the arrival of new COO, Bea Walker, President Wiggington has spent hours each day, meeting with her in his office. Accompanied by AVP, Rodger Smock, the three to to lunch each day, for 2 1/2 to 3 1/2 hours, most often visiting the El Tepeyac Patio in Alhambra, California where they are overheard talking about enemy employees that Ms. Walker has been hired to terminate. Clearly, they are at the honey-moon stage of their relationship.
FINANCIALS
This past week, Mr. Wiggington, Sr. walked through the Loan Department and speaking loudly on his cellular and exclaiming that business has improved tremendously though the credit union's financials confirm that Priority One remains trapped int he RED. From a fiduciary perspective, negative, irrelevant of the amount implies no profit. Is the President confused again?
If the negative amount of Net Assets has decreased but remains in the negative, then technically there has been some improvement but the negative balance indicates losses. President Wiggington may be in denial or listening again, to the sounds of a drummer no one else hears or sees. He is like the emperor who convinced by deceitful tailors that he was wearing beautiful new clothes when in fact, he was naked.
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7 comments:
With all you have repoted, I am shocked that nothings been done. We all know the DFI is busy and they cutbacks and I guess they are trying to look at credit union's with bigger financial losses but like typical government, they have a "potential" serious problem and have decided to just sit on it.
And how about other credit unions? No one has even offered to help or provide some advice, have they? I though cu's were about people helping people which is just another big pile of dung, because credit union's are no different than their competition, the banks. I have recently closed my account with a credit union because they don't offer better rates on savings than do banks. Their loans have about the same and sometimes higher. So where's that better rates they talk about? And if Charles Wiggington can do anything he wants even illegal things and the credit union industry doesn't care, then guess what, they are no different than banks which means no reason to open an account with them. At least at banks, you're not going to get a board of undereducated postal workers running the place.
You have some valid points.
Service is a thing of the past. You call Priority and the 1 receptionist has to answer calls for 7 or 8 branches. You walk into the South Pas branch and people don't smile and when you go see a teller, they process whatever you give them but never ask if your interested in any of their products or services. Its really bad but the one at fault for all of it is Wiggington. I guess he has not realized that at the post office, we don't like him.
He's hiding the financials not because as a reaction to this blog but because the cu's performance basically sucks. No matter how often some board member gets up and says everything is good or how much a supervisory committee member says they label everything a-okay, the fact is the figures don't lie and P1 is more red in the day today than it was at the end of 12/31/08. BTW, has P1 sent a reply to the DFI?
Then why dont you postal workers get off your A$$ES and do something about baldy? Isnt this you credit union? It has to be breaking the post office heart to see this place go down like this.
No, Priority One has not responded to the DFI's inquiries.
We want raises!!!! If you can afford to remodel the building, a brand new surprise branch and a new COO, then you can afford raises. We want a Raise!!! We want a Raise!!!
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