What is an Annual Electoon?
We've received comments and emails concerning the upcoming Annual Meeting which typically takes place at the end of May.
For those who many not know, during the annual meeting, officers inform attendees about the credit union's financial and security standing, announce the names of newly elected Directors and Supervisors, and describe those plans that will be implemented over the next year to promote growth.
DISRUPTING ELECTIONS
In 2009, President Wiggington has exacted measures to limit the publication of information including, his disruption of the electoral process to ensure the Board's Directors remain in place and are not displaced by new representatives. He, with the held of Board Chair, Diedra Harris-Brooks,
Both the President and Board Chair, Diedra Harris-Brooks, decided to plot another of their self-styled schemes. This time, they would decided to limit how many members receive the annual required notice inviting them to nominate themselves to run for available seats on the Board and/or Superviory Committee.
The President ordered the notice placed in the downstairs entry way to the credit union though most members rarely visit the South Pasadena branch.
He also included a reference in the statements mailed out in February.
He also included a reference in the Winter newsletter but that letter is only mailed to members who have a checking account and thus excluding the larger sector of members who ONLY have a savings account.
The plan might have been labeled a success had their plot not been made public. Ultimately, the two are as awful at being conniving as they are at developing successful business development strategies.
The 2008 Annual Meeting will taken place in South Pasadena at the end of May 2009. All members which includes those with only a savings account, are invited to attend the meeting. Its important to keep abreast of the changes occurred at the credit union and of the plans for its future.
However, it is important to take information verbalized by the President and other officers and information contained in the annual report that will be distributed at the start of the meeting, and over the next year review and confirm how much of what was stated was actually realized. We have noticed that the officers talk what they think is a good game but rarely, if ever, succeed in achieving their stated goals.
Member-owners have a right to express their concerns about the credit union's internal operation and its direction. The annual meetings are also an appropriate venue in which to ascertain if in fact member-owners are Priority One's "First Priority."
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18 comments:
I bet he is going to try and keep the date secret until the last minute. A person doesn't try to hide the facts if he hasn't done anything wrong.
He's trying so hard to keep himself on the down low. He doesn't talk loudly about personal things when walking into loan and member srvs departmnt. Some of us have seen him staring at people he thinks are responsible for this log. He is pathetic. Maybe he should deal with the truth like an adult and try to change his ways.
I have known Sir Charles Wiggy for 5 years. No one on this blog ever says anything good about Wiggy. So let me be the first to shower praise on Wiggy.
You can always count on Sir Charles to betray his staff.
Wiggy is a well-known loudmouth.
Chales is an excellent backstabber.
Wig-man always takes a long lazy lunch - 2 hours minimum.
Wiggy is always looking to buy a Credit Union repo on the cheap. If it's a BMW so much the better.
Wiggly shows preferential treatment to people he deems as butt-kissers.
I am mobilizing many of my friends to show up at the Annual Meeting. Those of us that are upset with Sir Charles and his cronies need to oust the Board Members such as Diedra who gave the Wig-Man approval to run the credit union into the ground. You can't hide any longer Diedra!
When will Priority One be posting financial results for March? Will our credit union continue to post red-ink?
How long will the NCUA and the DFI wait before they initiate charges against Wiggy for his nefarious dealings in the Wafa BMW repossession theft.
To all the readers of this blog: If you do attend the meeting please remember to be respectful when asking Wiggy questions or you run the risk of losing credibility. I would stay away from personnel questions and even the matter of the BMW and ask instead questions about the financials. For instance, ask him how much the NCUSIF premium will impact POCU and ask if POCU lost money with the takeover at WesCorp? What impact will those events have on POCUs capital? Where will POCU move it's investments? And if they have no plans to move why not? What steps has the credit union taken to control expenses? etc. etc.
Good luck..it should be an interesting evening.
What is the best way to give Sir Charles the boot? Does anyone have some advice on how to kick this con artist to the curb?.
Wiggy tries to keep the annual meting a secret - how can he do that?
A credit union is owned by the members. Shouldn't everything be transparent.
I'd like to give the Wigger my finishing move.
I agree with "Anonymous." If a person wishes to attend the annual meeting (and I urge that if you are able to, please attend the meeting) that we not lose sight of the fact that it is a business meeting and that comporting ourselves respectfully is critical to maintaining our personal credibility.
Certainly Mr. Wiggington has an incumbent responsibility to answer questions intelligently and truthfully concerning the financial state of the credit union. This will also be an opportunity that members are in no way like him or some of the board who have chosen to ignore the plight of the credit union in order to preserve the employment of a man who has proven his incapable of leading Priority One or any other credit union.
As "anonymous" also wrote, questions which should be asked should concern the credit union's financials.
Mr. Wiggington is required to respond intelligently and truthfully to questions about the financials, all of which serve to attest to his abilities as president and CEO of Priority One Credit Union.
Good luck..it should be an interesting evening.
As many of us should attend. Wiggington should be asked to explain how he got the credit union from being in the black on 1-1-07, the day he became president, to being in the red, less than 2 years later.
Wiggington should also explain why he borrowed from the credit unions credit line in 2008.
And how is the credit union expected to survive when it is offering ridiculously low interest rates and dividends that are higher than what is offered by other banks and credit unions. In January they offered a vehicle loan of 1.99%and a certificate of 3.75%.
In February the vehicle loan was increased to 2.99% and the certificate dividend changed to 2.75%.
Now they are offering an auto loan rate of 3.49% and a certificate divident of 3.30%.
Why would Wiggington and the board agree to offer something that only contributes to the credit union's continued losses?
Has anyone considered the costs to promote loans? You can't ignore the many other costs which further reduce "profit." How can the credit union hope to remain afloat when its actions are only adding to its financial burdens?
The annual meeting is always held on the last Wednesday of each May. That would be 5/27.
I suggest calling the credit union to verify just in case Wiggington tries to change the date.
If someone really wants to lead a change then they should request a copy of the credit union's bylaws. I use to one one but I shredded it when I closed my account and I do know for a fact several changes to the CUs bylaws have been made over the past three years.
The CU is required to share bylaws with any member who requests, but not give you a copy so you would have to review and take notes in the office... likely So. Pas. Also, you'll find specific bylaws on what it takes to call a "special" meeting of the membership and how board members can be replaced...members can replace board members by calling for special elections...you can make it very uncomfortable for Deidra and company but it will not easy so be prepared for some tough work.
BTW, monthly financials are supposed to be available upon request at each branch office. If the CU fails to provide a copy you can file a complaint with the DFI. March financial could be reasonably delayed as most CUs are struggling with booking the special NCUSIF premium and posting their WesCorp loss (if any).
I am pasting information for consumers who wish to file a complaint with the DFI.
I found the info at http://www.dfi.ca.gov/consumers/consumer_complaint.asp
How to submit a complaint against a financial institution licensed by the California Department of Financial Institutions.
Please follow one of the methods for delivering your complaint as explained below. Please do not send any additional documentation; send only the complaint form. If additional information is required by the financial institution to resolve your complaint, they will contact you directly.
Follow these steps to submit electronically Follow these steps to submit via mail or fax
Fill out the complaint form in its entirety. For email submission, a signature is not required.
(Omission of information may delay the response to your complaint.)
Save the form to your hard drive in a familiar location. Name the file something familiar like "DFI Complaint Form."
Open your email account and click new email.
In the To: line of the new email, type consumer.complaint@dfi.ca.gov
On the menu bar select insert file. Select the file you named earlier.
Send the email.
You will receive a confirmation email indicating that the DFI has received your complaint.
Open the link and print the form.
Fill out the complaint form in its entirety. (Omission of information may delay response to your complaint.) Make a copy for your records. Send only the complaint form. If other documents are required, your financial institution will request them.
If filing by fax dial (916) 445-2123
If filing by mail, send to:
Department of Financial Institutions Consumer Services Desk
1810 13th Street, Sacramento, CA 95811
Within the next 7-10 business days you will receive a confirmation letter indicating that DFI has received your complaint.
Acknowledgement
By filing this complaint, I acknowledge that I understand that:
The Department of Financial Institutions (DFI) Consumer Services Office will facilitate communication between me and my financial institution to assist me in resolving my dispute ;
The DFI cannot assist me in the complaint process if I am in litigation with my financial institution; and
If the dispute is not resolved in my favor, the DFI Consumer Services Office cannot award damages to me or order my financial institution to reverse a fine or fee, give me a loan, remove a negative credit report or take any action in my behalf.
Please proceed to DFI Complaint Form - (Word) | (Adobe PDF)
By submitting this form you agree that you have read the Notice of Individuals located on the DFI Web site @ http://www.dfi.ca.gov/forms/.
YOU CAN ALSO VIEW THE COMPLAINT FORM AT http://www.docstoc.com/docs/291824/CA-DFI-CONSUMER-COMPLAINT-FORM
I would be careful about showing proper respect for Charles Wiggington at the Annual Meeting.
This is the average members only chance to confront Sir Charles for his inept management style.
I say definitely ask him about the Wafa BMW swithceroo and theft. I for one would like to hear his convoluted explantaion of how he ended up with a members BMW. Let's hear this slug Wiggy lie his way out of that one.
Sir Charles is hoping he will not be confronted at the annual meeting. He does not want to discuss why Priority One is drenching in red-ink. I say force him to tell the entire membership how he screwed up.
I think Diedra should be asked why she and the board thought that he was innocent of the charge of sexual harassment.
And he should be asked why he is the best person to head the credit union considering that he was in possession of Mr. Wafa's BMW, that he was accused of sexual harassment, that he screwed up the mailing which showed member account and social security numbers printed on the outside of the envelopes, why he thought that replacing an experienced marketing director with a marketing committee was a good decision, why he promoted liz campos and aaron cavazos, and why with his shameful reputation he has not chosen to do the right thing and step down like a real man.
Just some questions to ask him.
Ask Sir Charles why he welcomed Henry Justice into his office after he ripped off the credit union?
I also agree Wiggy must be confronted about how he came into possession of Wafa's BMW. It'll be fun to see Wiggy try to weasel word his way out of that one.
I worked at the credit union when Mr Wafa's auto was repossessed. What they did was horrible. They took the vehcle from a member who had already agreed to pay back his past due balance and then they faked the auto auction papers and before you know it, Wiggington is driving around in Mr. Wafa's car bragging no less that the rims were worth $2000.
And what about his plan to bring back is good buddy, Henry Justice to the credit union? Steal $86,000 and then bring you back a few years later?
Wiggington has nerve. He is the worst. He punishes people for doing far less than he ever has and destroys the innocent but violates policy when he can. Sorry but being polite and respectful is over with for this snake.
With everything he has done his lazy ass should be kicked out. Maybe a job as talk show host would be nice. How about being a host of I'm a Thief how About You?
If you can prove that Wiggy forged the papers you should contact the DFI and perhaps the police immediately...this is sure looking like serious embezzlement...if true.
The papers for the repo were probably processed by the collection department so they probably don't have Wiggs actual signature on them. But the supervisor at the time, can provide his statement and maybe Mr. Wafa can testify that he did agree to a payment schedule. Plus, how did the vehicle get from Mr. Wafa to Wiggy? I remembr him bragging about his new car but we knew that Mike Lee told him it was a BMW and all of a sudden the agreement is denied and Wiggy has a car that belonged to the member. Later he told people he bought it from a dealer but not according to the DMV history which shows it went from Wafa to Wiggington to Odell Richards. Dealer? The man lies about everything.
This is very sad.
We need to pray for Priority Credit Union. Just think of all the people that work there and depend on the company for their livlihood. Plus what is happening is just another BLOW to the credit union industry.
Thanks for taking the time to discuss this, I feel strongly about it and love learning more on this topic.
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