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Sunday, August 15, 2010

Don’t Look Down, Part 3


Priority One Credit Union's COO, Beatrice Walker's latest campaign involves amending the credit union's policies that directly impact employees. According to Ms. Walker, she is going to tackle employee policies as part of her cost-cutting plan though we have no idea why she has chosen to change policies that impact non-managerial staff.

Since her arrival to Priority One on June 1, 2009, Beatrice Walker has proven to be an undisciplined and self-indulgent spender. What's more, wasn't she hired to create new sources of income, a job she apparently is quite incapable of doing. 

The following list references some of Ms. Walker's latest projects which might prompt one to ask, "Why is she getting paid $100,000 plus per year to do this?" For an answer to that question, you'd have to inquire with federal law breaker, President Charles R. Wiggington, Sr. and the equally corrupt Board Chair, Diedra Harris-Brooks? 

7-Minute Grace Period

A test of any leader's competency is often best attested to in how they handle the small challenges facing any business. Recently, Ms. Walker, tackled the credit union's "7-minute grace period". The grace period is the period of time, employees are allowed to arrive late to work without incurring an attendance violation. Ms. Walker's recent change to policy has taken a fairly insignificant aspect of policy and magically transformed it into a brontosaurus. 

Illogically, Ms. Walker has not chosen to eliminate the grace period but rather, issue verbal "written" warnings to any employee who arrives to work late within the 7-minute period. After an unspecified number of occurrences, employees will be issued a written warning and/or terminated at the discretion of the credit union. 

Rather than creating a new tedious procedure, why doesn't Ms. Walker just eliminate the grace-period. And why has she refused to reference the number of times an employee is allowed to be late before being issued a written warning? Ms. Walker has implemented a policy change that could place the credit union in yet another, legally precarious position. Additionally, isn't the subject of the 7-minute grace period something administrated by Human Resources and not a COO? 

Ordering Supplies 

As part of the credit union plans to reduce spending, Ms. Walker and CFO, Saeid Raad decided to target office supply spending. We don't actually disagree with reducing spending as every business should be conscious of its' spending though Ms. Walker's "plan" seems poorly put together. 

Under Mr. Walker's and Mr. Saeid's plan, every department and branch will be provided a budget of $150.00 though the two failed to specif if this is a monthly, quarterly, or annual budget.  The amount is paltry. Evidently, these two experts don't understand that reducing expenses doesn't mean undermining the credit union's ability to carryout business.

The amount of $150.00 also suggests that the struggling credit union has move from being cost conscious to being frugal. Here are the procedures for ordering supplies outlined by Ms. Walker and Mr. Raad:

  1. Employees will be required to complete a requisition form. That certainly doesn't seem unreasonable.
  2. Before submitting a requisition form, employees must research the cost of the item(s) they are ordering. This includes pens, pencils, notepads, paper clips, staples, etc.  The cost must be included in the requisition form. That seems a little out of the ordinary. 
  3. The completed form will no longer be submitted to the stock room manager but instead, must be submitted to the employee's supervisor. 
  4. The supervisor will approve or deny the request.
  5. If approved, the request will be forwarded to the Accounting Department for review and approval or denial.  
  6. If the request is approved by the Accounting Department, the order will be sent to the stockroom so that it may be ordered. 
Is this an example of Ms. Walker's keen strategical skills?  So how long will it take to order a box of pens? Six months? 


Ms. Waker recently visited the departments located in the South Pasadena branch promoting a new program she recently decided will benefit employees. 

The program provides employees tax-free credit which they can use on medical expenses and daycare. The program is actually a loan though Ms. Walker has been careful not to disclose this in her sales pitch. 

Employees may select a specific monetary amount they wish set aside of medical expense. Whatever amount they choose, will have to be paid back by the end of the year. Any amount not used by the end of the year will be lost and is not applicable for use in the successive year. 

For example, if an employee requests the amount of $1200.00 to cover potential medical needs for the entire year, but only uses $400.00, they will have to pay the entire $1200.00 and lose $800.00 which can never be retried or used in another year. 

Is this an example of how Priority One shows employees "how to win with money"? As we've often written, Priority One is no one's "financial fitness center." 

A few months ago, during an a Branch Manager meeting, Ms. Walker boasted that she could acquire more new business than the entire business development team. If this is an example of her skills as a salesman, may we suggest that she consider a change in career. 


In 2009, President Wiggington hired Sepia Consultants who on a weekend, met the President at the South Pasadena branch. The consultant was escorted by the President to computers assigned to employees who the President knew for a fact, were the blogger, bloggers and friends of the blogger(s). The search for his imagined enemies proved fruitless though payment was issued to Sepia Consultants using credit union funds. 

On June 3, 2010, Ms. Walker introduced her new amended and allegedly, far more effective policy governing confidentiality. Under her revamped policy, employees who use their company-issued computers to visit social media sites including Facebook, MySpace, Twitter and more,  during working hours will receive a written warning and/or be placed on suspension or terminated. Though we are aware that President Wiggington peruses the Internet visiting social media sites and BMW dealer websites, we believe employees are far ore intelligent that to jeopardize their employment mimicking the President. 

During June 3, 2010, the chronically inept Human Resources "clerk", Esmeralda Sandoval, visited every department in the South Pasadena branch and ordered employees to form small groups. She then ordered each employee to read Ms. Walker's amended policy out load to their co-workers. After each employee was forced to read the policy, Ms. Sandoval asked, "Do you understand what you read?" Ms. Sandoval has for years served as managements lapdog and has willing provided fraudulent testimony used in the termination of employees. Though she forced every employee to read the policy out loud and afterwards asked if they understood what they had just read, we believe it's Ms. Sandoval who doesn't understand how foolish she appears to all employees. 


On Friday, July 2, 2010, a memo was issued to all branches by President Wiggington, informing all employees that AVP, Rodger Smock, will no longer approve mileage reimbursements.  

The decision to remove Mr. Smock from approving mileage reimbursement is yet another brainchild of  the COO and her allegedly highly experienced financial planner, CFO,Saeid Raad. 

Under a new procedure developed by them, requests for mileage reimbursements now requre the approval of an employee's supervisor or manager. Once approved, the request is forwarded to Mr. Raad for a secondary approval. So what advantage does Ms. Walker's new procedure provide to employees and the credit union.

We've learned that the reasoning behind the new procedure is to buy the credit union more time when processing reimbursement requests. The procedure will force longer wait periods before reimbursements are issued. Again, is this another example of how Priority One is helping employees "win with money"?


The COO recently revealed that consumer loan delinquencies have increased and that many are loans belonging to now terminated employees. Apparently, the not-so-astute COO doesn't understand the principle that if you terminate an employee, they are left without a job and often have to rely on whatever they can receive from unemployment insurance. Subsequently, former employees have to set priorities of which bills they'll pay. They might choose purchasing food for their children and paying rent and utilities over submitting a monthly payment to their personal loan. 


A few week ago, Consumer Loan Manager, Joseph Garcia, introduced a new, quirky, and fun practice. Each time a loan is funded at the South Pasadena branch, Mr. Garcia picks up a bell which lies atop his desk and rings it several times

Is the ringing of the silly bell intended to motivate employees? Being devoid of magical properties, the purpose of ringing the bell each time a loan is funded is nothing less than absurd. Then again, this is the same manager who a few weeks ago was stripped of his title of Real Estate Loan Manager because of his gross inability to comprehend the procedures governing real estate loan processing. 


During the last month, COO, Beatrice Walker, ordered that all employees do whatever is possible to increase membership. She insists that without new members, business will continue to decline. 

We're surprised that the allegedly seasoned COO believes that the solution to Priority One's financial problems is obtaining more members. She apparently is unaware that every credit union has to make efforts to identify members who have never or rarely, obtained products and services offered by the credit union. The majority of Priority One's members are not recipients of what the credit union offers. 

President Wiggington has made almost no effort to tap into the credit union's vast, disfranchised member sector. Studies show that a credit union has to focus efforts to connect to members who have been actively enrolled in the credit union for 24 to 36 months. And audit of the credit union's records would confirm that many members only have Priority One's minimum $5.00 balance in a checking account and a free convenience checking account with little or no funds.    

Ms. Walker is proving that like President Wiggington; Board Chair, Diedra Harris-Brooks; and AVP, Rodger Smock, she too has no concept of the need to develop new business under existent members. 


Since the start of 2010, it seems the credit union is constantly being visited by auditors. However, on June 1st, another contingent of auditors swept down upon the credit union. We wonder what is causing the surge in visitation? 

We know the waves of auditors have not been hired by the credit union because the President and COO seem unusually apprehensive. On Tuesday, June 15, 2010, during their exit interview, auditors informed the President and COO areas within the busienss which require correction. Of course, it is the President;s and COO's expressions of concern that suggest the news wasn't good. 

Also, during the afternoon of June 15th, Financial Planner (CFO), Saeid Raad, stood on the sidewalk in front of the residential structure located next door to the South Pasadena brnch speaking to a state auditor. Doesn't Mr. Raad have an office? 

Also, while reviewing the credit union's records, auditors have been heard laughing and criticizing the credit union's "poor record keeping." 


Beatrice Walker is a women plagued by uncertainty and confusion. In 2009, she began terminating people she said were unnecessary to the operation and later, she turned her attention to employees the President had labeled "enemies" of his administration.

Though she has fired employees, reduced working hours, and stripped many employees of their medical benefits, she has made little headway in reversing losses originally caused the the inane decisions of President Charles R. Wiggington, Sr. 

One of Ms. Walker's problems is her untamed spending which is depleting the very coffers she's allegedly fighting to fill. Since 2009, she has spent more than $200,000 in total, remodeling the main branch and the Burbank branch and building what has become a failed call center. Her remodeling included painting the South Pasadena and Burbank branches, installing wall to wall carpeting in the South Pasadena office and all new window treatments. She also had the flooring replaced in the employee lounge room and patio. And she had to silver-colored logos commissioned for the South Pasadena and Burbank branches. 


CFO, Saeid Raad
Paid more than $100,000 per year

IT Manager, Randy McBride
Paid more than $75,000 per year


Director of Project Management, Yvonne Boutte
Paid more than $75,000 per year

Loan Manager/Call Center Supervisor, Joseph Garcia
Paid more than $60,000 per year 

Ms. Walker's annual salary approximates $100,000.
President Wiggington's salary is more than $150,000 per year
AVP, Rodger Smock, is paid approximately $100,00 per year

Ms. Walker's cut-backs in spending like those introduced by President Wiggington in 2009, are designed not to touch the salaries or benefits for the management sector. Is this how Priority One is helping members "win with money"?

No doubt, Beatrice Walker is a graduate of the Charles R. Wiggington, Sr. and Diedra Harris-Brooks School of Ethics. Since her arrival, Ms. Walker has adopted an unusual and wholly unethical, wage of requesting personal expense reimbursement.  

When she submits receipts, she tears off the upper portion of the receipt containing the name of the store or company where she made the purchase. Why is she hiding the names of the businesses where she allegedly purchases work-related items? 

Recently the Director of Project Management, Yvonne Boutte, disclosed that Ms. Waler is reporting the costs spent for remodeling the South Pasadena and Burbank branches under depreciation. Evidently, Ms. Walker shares the same obsession for altering reporting as does the President. On a side note, the excess carpeting not used during the remoedling of the main branch was delivered at Ms. Walker's request, to her home in Santa Clarita, all at the cost to the credit union. 

One thing Ms. Walker's manipulation of financial reporting can hide is her record of undisciplined spending. 

To be continued......

Sunday, August 1, 2010

Don’t Look Down, Part 2


"There's been rumors that people are 
going to lose their jobs now that I'm 
President. Let me tell you, no one will ever 
lose their job while I'm President. You can take 
my word on that." 

Charles R. Wiggington, Sr., President/CEO, January 4, 2007

We don't think we'd be exaggerating if we described Priority One Credit Union President, Charles R. Wiggington, Sr.'s lies and exaggerations as anything other than dizzying. 

Since being appointed President on January 1, 2007, the President has concocted tall tales 
most often intended to rationalize his failures, dupe employees, cover-up his despicable behaviors and used to embellish talent and abilities he doesn't possess. His stories are woven around his favorite subjects- his above-average intellect, his sexual prowess, his keen comprehension of banking financials, his collection of old, used BMW's, and his $1 million estate nestled quietly in a down trodden section of Echo Park, California. 

Last year, the President introduced his long-time acquaintance, Beatrice Walker, to the Board of Directors who hired her to serve as the credit union's first COO. Though Ms. Walker's greatest accomplishment thus far has been implementing brutal cut-backs on spending, she like the President, has made certain that the reductions in spending to not affect executive salaries or benefits. What's more, as she reduces spending, she's entered into a literal spending spree using credit union monies to fund what are becoming a series of poorly performing enterprises.

This past February, Ms. Walker proclaimed Priority One generated real profit during the month of January. This was the first time profit had been gotten in almost one-year. What's more, the profit was earned during what traditionally is, one of the slowest months of the year. However, at the end of March it was revealed that Ms. Walker and the President transferred monies from one of the credit union's general ledgers and reported these as profit. The so-called profit was nothing more than a highly unethical and not-so-clever act of manipulating financial reporting. 

What the President and Ms. Walker have created is a card of cards whose collapsed is quickly approaching, in the not-too-distant future. 


This post resumes our reporting about COO, Beatrice Walker, who was hired on June 1, 2009, to reduce spending and introduce new streams of income needed to offset losses incurred by President Wiggington's deficient business decisions. Since her arrival, she has single-handedly succeeded in absorbing a great portion of President Wiggington's business decision authority. Considering the failure and lukewarm performance of the products and services she's introduced. it seems that stripping a part of the President's power is probably her only key accomplishment. Congratulations, Ms. Walker.


During the past week, Priority One mailed a form letter to members reminding them that they could can call the credit union to enroll in Courtesy Pay- the credit union's overdraft protection program. The letter contains numerous grammatical errors and omissions of information, reminding us of the carelessness which characterizes so many of President's and COO's enterprises. At the bottom of the letter, the credit union proudly displayed the following message:

"Voted BEST Credit Union - Los Angeles News" 

We'd learned that the message was published in an effort to present the credit union in a positive light. We contacted the Daily News' offices and were told that the message is found in a 2008 edition of their newspaper. We also discovered that the statement only alluded to the Valencia branch and not the main office in South Pasadena, or the Los Angeles, Burbank and Van Nuys. branches. This effort to pull another fast one. We've learned that the ruse was concocted by COO, Beatrice Walker, and AVP, Rodger Smock. Evidently, the two have no problem with dispensing misleading, deceptive and inaccurate information. Realistically, Priority One leadership of Charles R. Wiggington, Sr. is not the "BEST" at anything. 

Another visit to the credit union's "Career" page revealed that Priority One continues to insist they are a "progressive $175 million" credit union. There statement is shown, below:

"Priority One Credit Union, A progressive $175 M credit union, is an equal opportunity employer. We offer competitive salary and benefits packages within a friendly team-oriented environment. We provide career growth opportunities for those that demonstrate the potential and have accepted the challenge of responsibility."

Yes, Priority One is a $175 million credit union in the same way it's the "BEST" credit union in the world. 

Like the manipulation of financial reporting during the month of January, the President, the COO, and AVP, Rodger Smock, thought they could pull a reference from the Daily News that was written only about the Valencia branch back in 2008, and parade it about to deceitfully try and convince members and employees that the entire organization had been rated as the "Best" credit union on earth. If these three could expend as much energy in creating strategies that actually work, Priority One might actually be experiencing a reversal of fortune. 

On a side note. The COO was so vexed by our last post that she couldn't contain her anger and while standing in the Credit Resolutions Department and in the presence of collection and call center representatives, complained to her confidants, Yvonne Boutte and Joseph Garcia, that if necessary, "I will fire every employee" that is leaking confidential information" on to the blog. Again, she said this while standing in the Credit Resolutions Department and in the presence of collection and call center representatives.

The latest casualty to suffer the wrath of the President and COO is the South Pasadena Receptionist who the President swore was leaking information to this blog. His belief is of course wrong, if not delusional. The reception sat at a lone desk, located at the entrance of the branch in which is referred to as the "reception area." She had no physical access to confidential information. Despite the logistical issues with the President's accusations, he insisted and knew for a fact, that she was the source of information that was finding its way to this blog. 

The receptionist now joins several other employees that both the President and COO, Beatrice Walker, believed were leaking information to this blog. These include the credit union's ONLY Marketing Specialist, the IT Supervisor, an AVP, and a senior accountant, the Teller Supervisor of the Los Angeles branch. 

The President and COO are slaves to their own undisciplined imaginations, never relying on evidence of the things they hold to be but instead, choosing to cleave to whatever concoctions they dream up. 

And Priority One has a policy governing confidentiality, neither the President or COO can seem to bridle their tongues. Ms. Walker is openly expressing her frustration over this blog and in response is targeting scapegoats who are blamed for leaks they never committed. What's more, we believe that her persecution and victimization of employees is just a ploy to draw attention away from her amassing strategical failures which have done nothing to curtail the credit union's vast monthly losses.  

Not so coincidentally, the people laid-off during the month of July are the same people she and the President previously labeled, "the blogger", "bloggers" and "confederates of the bloggers." 


At 3 p.m. on Monday, July 12, 2010, Beatrice Walker, saunters across the Loan Department, her deep-set eyes framed by sagging, uneven eyelids and trying to discreety hide the fact she is watching every employee in the department. She suddenly stops and momentarily glances over at the receptionist who is pre-occupied, busily answering the excessively heavy phone lines. 

Wearing a plain, heavily worn black polyester dress and a necklace of faux pearls, she fails to notice she is being observed by several employees of the Loan and Teller Departments. 
Some employees would later comment that her worn dress was actually an improvement on the clothes she usually wore to work. 

Many employees would later state that Ms. Walker's effort to improve her attire was a reaction to the comments posted by readers on this blog. She has often been the brunt of jokes and criticisms for her often shoddy wardrobe and poorly applied make-up. 

After standing for several seconds at the reception desk, Ms. Walker turns, a crooked smile sweeping over her face and walks back to her office. As she exits the Loan Department, a Loan Processor exclaims, "She looks like the Cheshire cat.:"

Later, the same day, at 5 p.m., Human Resources clerk, Esmeralda Sandoval, calls the receptionist and asks that she go to the office of Senior Vice President, Rodger Smock. A few minutes later, she is met by Miss Sandoval at the door leading into Mr. Smock's office. As she enters, Mr. Smocks asks that she seat. She is then informed by the aged Senior Vice President that she is being laid-off after only three-years of employment because the credit union is being forced to reduce spending due to declining business. While speaking, Mr. Smock's face flushes bright red and his voice quivers, his eyes darting back and forth uncomfortably. He also discloses that the lay-off has been ordered by COO, Beatrice Walker, and CFO, Saeid Raad. 

The credit union terminated a receptionist who was paid about $14.00 per hour but chose to retain President Charles R. Wiggington, Sr. who is paid in excess of $150,000 per year and has been the number one contributor to Priority One's decline including a loss of more than $12 million in net assets since January 1, 2007. Wouldn't terminating the President have a far more beneficial fiscal impact upon the credit union than terminating a receptionist?


The credit union has sent out a notice to employees, announcing they are immediately stopping all contributions paid by Priority One 401K plans. The contributions matched those contributions paid by employees into their personal 401K plans. So what happened to the credit union's declaration contained in its mission statement, asserting, they possess the ability to "help members and employees win with money"?


The greatest flaw with Beatrice Walker's plots is not her motivations but the fact that the real reasons behind her actions eventually become public. 

For the past year, Ms. Walker has ordered a reduction of hours for many formerly, full-time employees and with the reduction of hours, cessation of their benefits. According to the sly Ms. Walker, this is one means to reduce spending. We think another more effective means might be to refrain from giving into her indulgences but that's a subject for another post. 

However, Ms. Walker is again violating state law. She has reduced hours for some employees and eliminated their benefits but she is requiring that they work 8 hours per day, 5 days per week. Isn't that full-time employment? By stripping away benefits, the credit union is substantially reducing the amount of their overhead, albeit it completely illegal. And again, the reductions being introduced by Ms. Walker are coming at a high cost to employees. So, is Priority One truly a financial fitness center? 


In our previous post, we described Beatrice Walker's efforts to reduce and eventually, eliminate the Business Development team. 

The efforts to eliminate the team was actually begun by Charles R. Wiggington, Sr. who in his mind, believes the team is unnecessary. With consideration to his continual failure to introduce strategies that produce real profit, we'd have to conclude the President Wiggington knows nothing about marketing, or product development. .

We previously described how Ms. Walker converted the entire team from exempt status to non-exempt status. With the help of AVP, Rodger Smock, they've issued a notice informing the team that the credit union will no longer pay over-time. Since our last publication, the COO and AVP have issued another notice, this time advising the business development team that if they work in excess of 40 hours per week, the excess hours will be added to their accrual of personal time off ("PTO"). The directive is illegal under state law. 

Not to be out done, Ms. Walker has increased her stranglehold on the business development team and two weeks ago, reduced the hours they're required to work each week, from 40 to 20. According to AVP, Rodger Smock, the reason hours were reduced to 20 hours per week is to avoid laying off any team members. Mr. Smock is being both preposterous and inane. 

With the reduction of hours, the credit union has announced each team member's medical benefits will be cut-off. 

Is this another example of how Priority One fulfills its promise as a financial fitness center and proves it can help employees, "win with money"?

Ms. Walker like the President is another overpaid and talentless hack whose expensive spending habits have failed to create anything tangible that suggests growth and development. Like the President, Ms. Walker talks about what she will accomplish and yet, we're kept waiting for the moment anything she does reaps real profit. 

Thus far she's terminated numerous employees, some who she concluded were unnecessary to the credit union and others who she imagined were "out-to--get her." She's bludgeoned the amount of working hours for the business development team and stripped them of their benefits and openly disparaged their abilities, yet she is a failure as a strategist. What's more, she orchestrated the hiring of her friend, Saeid Raad at a salary of more than $100,000 per year and she's hired her other friend, Randy McBride. She's also spent more than $100,000 remodeling the South Pasadena and Burbank branches and another $70,000 plus building what is proving to be a failed call center. Her decisions are not only saturated with contradictions, she is failing to realize any of her promises that she could bring in new streams of income. 

Even some members of the management team are fearing their future at the credit union. Months ago she described her plans to drive AVP, Rodger Smock, into retirement, describing him as "useless" and "overpaid." She also expressed a desire to remove Training and Education Manager, Robert West, who she has said is "unnecessary." Recently, Human Resources "clerk" and credit union decoy, Esmeralda Sandoval, stated, "Maybe I'm next." Considering that Ms. Walker has criticized Ms. Sandoval's weight and speech and the fact that she no college degree or formal education in anything related to Human Resources, maybe it's time she were sent on her way to greener pastures. 

Despite her overt failures, Beatrice Walker is tenacious and recently ordered new cubicles to be installed in the Call Center, Credit Resolutions and Member Services departments. Rarely, do we get an opportunity to watch the rampant and irresponsible abuse of spending like that taking place at Priority One Credit Union. 


As reported here, previously, this past January 2010, Ms. Walker and the President transferred money from one of the credit union's general ledgers and reported the transferred funds as profit. The amount fraudulently credited as profit was $230,238,99. 

Contrary to what Ms. Walker insisted, there was no profit because there was little business in what is traditionally one of the slowest months of the year. After January, here is the amount of monthly net income reported by credit union for the months of February 2010 through June 2010:

Net Income

February 2010

March 2010

April 2010

May 2010

June 201

The credit union's return into the negative was caused in part by their potion of the assessment payable to the NCUA. Of the -$590,099, $192,709 was the amount paid to the NCUA. Irrelevant of the amount paid, they would sustained losses in the amount of 
-$397,390.00Additionally, net capital declined to 6.6%. Wasn't net capital at 10% on January 1, 2007, the date Charles R. Wiggington, Sr. began serving as President? Are these factors an example of how Priority One serves as a Financial Fitness Center?

Furthermore, during May's 2010 annual meeting, Board Chair Diedra Harris-Brooks could not desist her long, drawn out flattery of Beatrice Walker and her allegedly wonderful achievements which Mrs. Harris-Brooks said had made Priority One a "better and stronger" credit union and confidently concluding, "We believe we finally have the right management team in place." 


In September 2006, the Board of Directors under it's Chair, Diedra Harris-Brooks decided Charles R. Wiggington, Sr. would be the most qualified candidate to serve as successor to retiring President, William E. Harris. At the time, Directors O. Glen Saffold, Thomas Gathers and Janice Irving all said they selected Mr. Wiggington because what the credit union needed most was a "Black President." As the years have proven, skin color is never a substitute for competency. 

Though we are all guilty of telling jokes about people and cultures, one can't deny that this type of humor disparages its subjects. 

In business it is often a violation of policy to use defamatory epitaphs while at work. This constitutes hate speech and only serves to segregate, stereotype and mock people and it is counter-productive to the development of employee morale.

Recently, Beatrice Walker provided wonderful insight into her character, her sensibilities and most of all, her racist perspective. On May 5, 2015, the credit union allowed its employees to celebrate Cinco de Mayo. For years, the credit union allows employees to celebrate holidays as a means by which to foster cohesiveness. 

While employees were treated to food in the employee patio and lounge room, Ms. Walker turned to her confidant, Yvonne Boutte, and complained that she couldn't comprehend the significance of Cinco de Mayo and referred to all Mexican employees of the credit union as "members of the Mexican Mafia." 

We fully understand that she doesn't comprehend the significance of Cinco de Mayo, though she could have Googled it on her computer. However, her statement about employees of Mexican descent or Mexican, is racist and wholly inappropriate. At a time, when the polarizing Ms. Walker should be striving to create cohesiveness between employees and management, she has chosen to express feelings born out of her personal ignorance and frustration. Her comment was both derogatory and inflammatory. 

Realistically, it is highly improbable that member of the Mexican Mafia would be working for the low wages for a credit union that offers no career development or future. Ms. Walker, irrelevant of her MBA from the University La Verne, is highly ignorant, lacking all comprehension of the effects her venomous verbiage has upon the work environment. Her offensive statement aside, Ms. Walker has proven she is more than a little stupid. 

On July 12th, the following comment was posted by a person some believe was Ms. Walker:

Anonymous said...

Last time I checked Mark was Marketing Director I checked Mark was Marketing Director -- but what has he done for the credit union lately. I hope is ass is fired next week when he returns...take his fake degree and go build a car in Mexico.


At approximately 5 p.m. on July 21, 2010, the Marketing Specialist was asked by Esmeralda Sandoval to accompany her into AVP, Rodger Smock's office. Once inside, Ms. Sandoval informed the Marketing Specialist that he was being laid-off because of a need to reduce spending. It had also been determined that the credit union doesn't require a marketing department. Really? 

Mr. Smock who usually presides over all terminations and lay-offs was not present, probably have contracted a bout of the "cowardlies." The Marketing Specialist, unlike Rodger Smock, actually possesses a degree in marketing studies. 

Historically, President Wiggington has always shown his disdain for marketing. In 2008, he berated, abused and finally laid-off the long time Marketing Director, whose executed promotional designs had made the credit union the recipient of numerous awards. 

However, the ouster of the Marketing Specialist was plotted by AVP, Rodger Smock. In 2009, when Mr. Smock's authority over marketing was reassigned to the Marketing Specialist, the aged and bitter Mr. Smock began harassing the specialist. On one occasion, he called the specialist to his office and berated him. Despite being more than 70 years old and the specialist being 24 years old, Mr. Smock stopped speaking to his replacement. 

Though we've not often alluded to Mr. Smock's subversive tactics, he has often been a divisive and even destructive influence in the credit union, hiding behind a disingenuous smile.  Mr. Smock who has over the past 2 years volunteered the names of people he believes are the blogger, informed the neurotic Ms. Walker that the Marketing Specialist was leaking information to this blog, even though the specialist had no access to confidential information. 

Over the past 8 weeks, Ms. Walker has often visited his computer, perusing files in search of anything that might prove he reads the blog while at work. While he worked, he often would see her reflection on his monitor as she tried to be inconspicuous and spied upon what he was doing.

Finally and with the help of Rodger Smock, Ms. Walker ordered the specialist's termination. If Ms. Walker is correct and the specialist is "the leak", then that should bring an utter end to this blog. 


Ms. Walker isn't the only officer at the credit union whose made racist comments. In 2007, President Wiggington entered into a vicious campaign to ruin the reputation of a highly accomplished business development representative. With the help of his AVP, Sylvia Perez; AVP, Liz Campos; and Burbank Branch Manager, Linda Nisely, the President subject the business development representative to a campaign of continuous harassment, disparaging her work, her character, and her abilities. At the time and in reference to the business development representative, the President told several employees and at least one officer that  "She's a Jew, they don't like Blacks." How Mel Gibson of the Black President. 


Despite her amassing failures and racist demeanor, Ms. Walker has resumed her efforts paving her way towards her future presidency over Priority One Credit Union.

On July 26, 2010, Ms. Walker issued a memorandum informing employees that she was altering the current corporate structure and that as part of that change, AVP, Rodger Smock, will no longer oversee Human Resources but will instead be assisting the President with "special projects". She omitted inclusion of the President's name.  She also announced that she will be overseeing Human Resources, the Training Department and marketing. 

With the increasing amount of complaints lodged against Ms. Walker, it seems more than a little inappropriate and even a conflict of interest that she now oversee Human Resources. She's proven quite incapable of being objective or honest and has perpetrated the dynamic of lies which mar the entire executive sector. We don't believe she'll ever objectively investigate complaints though like the President and Board Chair, we do believe she'll crush all evidence proving violations of policies and laws. 

Her growing array of failed products and her refusal to perform studies needed to gauge their potential success in the credit union's marketplaces make her the worst possible candidate to oversee marketing. What's more, she has proven she lacks the ability to train anyone much less oversee staff development. 

The only prudent aspect to her latest plan/plot is that she stripped the useless and dishonest, Rodger Smock, of his authority over Human Resources, though she is hardly a viable alternative to the incompetent Mr. Smock. 

Ms. Walker also informed employees that Saeid Raad, her friend and CFO, will oversee internal audits, Credit Resolutions, Compliance, and Real Estate Lending. We have one question. What does Mr. Raad know about Compliance?

The change clearly shows that Ms. Walker's confidant, Yvonne Boutte, will now be supervised by Mr. Raad. So is the changed impelled by the fact that under Mrs. Boutte, delinquencies have increased?

We've also learned that Joseph Garcia has been stripped of his authority over the Real Estate Department because he just couldn't comprehend the procedures and principles governing mortgage loan funding. That hardly comes as a surprise since prior to be named Loan Manager of the Real Estate Loan Department, he had absolutely no experience in anything related to real estate. Despite his complete lack of experience, in January 2007, Ms. Walker found it prudent and even beneficial, to appoint Mr. Garcia Manager of the Real Estate Loan Department. 

On a side note, he remains the Supervisor of the Call Center and under his management, member complaints have increased substantially. He is also remains the Consumer Loan Manager and consumer loan production continues in decline. He also remain the Interim Branch Manager of the Burbank office and production at that location remains in decline. 

The COO's decision to place Mr. Raad above audits, the Account Department, and the Compliance Department, may be a conflict of interest under state law.  As usual, Ms. Walker's decisions are taking the credit union on a downward roller coaster ride into oblivion. 


In February, Ms. Walker disclosed plans to possibly close the Valencia, Redlands and Burbank branches sometime over the next 2 years. The Valencia branch was actually targeted for closure to take place this past April, but Ms. Walker relented when she tried to enter into a "friendship" with that office's very attractive Branch Manager. 

However, as with much of what Ms. Walker touches, the friendship she craved, fell apart and to her great consternation.

Since their falling out, Ms. Walker has placed the Valencia branch back on the chopping block. Apparently, Ms. Walker is as sensitive and volatile as is President Wiggington.  

Economically, closing the Valencia, Redlands and Burbank branches would result in huge monthly savings to the credit union who pays to lease each location. Doesn't it seem strange that while William E. Harris was President that the credit union was able to afford the leases on each location? 

Ms. Walker also recently contacted the administrator of Providence St. Joseph Medical Center and suggested creating a space within the hospital where the credit union can open a branch and close its Burbank office. According to Ms. Walker, a location within the medical enter will meet the needs of many members who are also employed by Providence St. Joseph. Of course, this would also exclude the larger sector of members who are not employees of Providence St. Joseph.  

Recently, Ms. Walker accompanied AVP, Sylvia Perez to the medical center to speak to administrators and later, to a location in the Santa Clarita Valley where to relocate the Valencia branch. 

"If it's not in writing, it doesn't count." 
Beatrice Walker, June 3, 2010

This wonderful bit of sagely advice was provided by Ms. Walker during one of her many management meetings. Ms. Walker adamantly believes verbal statements have no binding power. Her ignorance knows no bounds.  

According to Ms. Walker verbal assurance and promises "don't count". Clearly, her integrity is unimportant to the incompetent COO. Ms. Walker probably believes that "ignorance is bliss" when in fact, "ignorance is just ignorance." 

The changes she implemented to the business development team were all verbalized. She refused to document that employee hours were were being reduced from 40 to 20 hours per week. She refused to document that each team member was being stripped of their medical benefits. She also refused to document her directive that employees won't be paid for any overtime worked and will instead receive personal time hours. 

Ms. Walker may believe her own lies but the fact is, she and AVP, Rodger Smock, verbalized the changes to every member of the team and irrelevant of whether or not the changes were documented, the fact is, they are subject to state laws. Ms. Walker is carelessly placing Priority One in a legally precarious position. 

President Wiggington recently revealed he is in search of "mergers" because in his words, "we need more money." Does he know that mergers cost money to execute? 

The proof of the President's methodologies and of the success of Ms. Walker's products and services are attested by by the financials. 




Less Loan Allowance



Total Assets

$168, 812,152

The actual amount of assets reported by the credit union for the month of June is $153,531,383. The amount of $10 million ("notes payable") which is the unpaid balance remaining on the $20 million loan borrowed in mid-2008 by the President. The actual amount of net assets is $143,531,383. What is clear is that Priority One is not a $175 million credit union as referenced on it's website. 

Accounts Payables






This past July, the President disclosed the credit union is borrowing from its reserves though he failed to provide a reason why.  

The President and COO's brutal cut-backs in spending, the introduction of new products and services, and the bludgeoning of business development have done nothing to reverse the many problems caused by the President and exacerbated by Ms. Walker.

The President is inept and useless but the COO is proving that she has no comprehension of financial development despite have earned an MBA while at the University of La Verne. 

The credit union's Accounting Department was recently ordered by CFO, Saeid Raad, to withhold processing mileage reimbursements and if possible, only process these every 4 weeks. According to Ms. Walker, Mr. Raad is scrutinizing all reimbursement requests. We suggest he hurry up. 

In spite of declining financials, Ms. Walker has chosen to increasings spending on superfluous enterprises and poorly planned products and services. There is another factor we've not addressed but why have annual legal expenses increased by 5 to 6 times more than was spent when William E. Harris served as President? 


Anonymous said...

As a Postal Service employee and P1 member, I am saddened to learn that conditions have deteriorated to such a degree. I don't think I've seen it this bad in the Postal Service, and that's saying a lot.

I have taken out several loans in the past with Priority One. Thanks to great people like Hector and your staff, I have always been amazed at how quickly and smoothly the loan process could be. Hector made things happen.

It is obvious that these days are past. With such a toxic environment and unwise management decisions, it is clear that P1's stability is a big question mark. I will therefore be closing my account.

My best to the good people at P1 and I hope that management doesn't ruin too many more lives. 

July 17, 2010 7:27 PM

Charles R. Wiggington, Sr. and Board Chair, Diedra Harris-Brooks, are the cause to Priority One Credit Union's rapid decline. The both have acted unethically and each has perpetrated egregious acts designed to cover-up violations of policies and state and federal laws and used to slander and terminate employees they believe are a threat to their tyrannical hold over the credit union.

Ms. Walker was hired to serve as the President and Board's personal "hatchet woman" but her plots have hardly been discreet and her brutal hacking has worsened the credit union's financial standing. Substituting dignity with malice; self-respect with scandal; and ethical conduct with manipulation, they have single-handedly and intentionally, propelled the credit union into an almost certain future.

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