MULTIPLE PERSONALITIES
Over the past 10-days, Priority One Credit Union's President, Charles R. Wiggington, Sr. has exhibited behaviors that could have made a wonderful study in human psychological disorders.
Employees have noticed he appears worried on one day and the next capricious and temperamental and at other times, almost giddy and excessively talkative. Its a virtual emotional rollercoaster of highs and lows.
Though often inflexible and erratic, increases stresses appear to be taking a toll on the undisciplined President, placing the credit union's gossip mill into full throttle.
More than half way through the year and the credit union's financial performance remains stranded in the RED with no indication of when Priority One's misfortunes might change.
MOOD ONE
On Monday, July 20th, the President expressed his dissatisfaction over mounting delinquencies and increased charge-offs and complained that his loan modification program has failed to attract the level of member interest he was so certain would be obtained. He still hasn't learned that he should conduct surveys and studies rather than relying on the concoctions from his wild imagination.
MOOD TWO
By Thursday, July 23rd, the President's mood had changed, again. The catalyst for the change occurred after meeting with CFO, Manny Gaitmaitan. During their discussion, the President ordered the CFO to slightly tweak the credit union's June 2009 financials. He insisted that a slight adjustment in reporting could make the financials much more palatable and would create the impression that business is on the upswing. Though "cooking the books" may not be an uncommon practice, at some point in time, President Wiggington is going to have to prove that actual improvement is occurring.
MOOD THREE
By Friday, July 24th, the President prepared to meet with the Board of Directors. He appeared giddy and traipsed about the South Pasadena branch and even exhibited a rarely seen air of confidence.
MOOD FOUR
Following his meeting with the Board of Directors, the President hastily made his way to his office, closing the door behind him and appearing irked and displeased.
Obviously, the Board wasn't enthused over the credit union's financials, even after these had been altered to lessen their negative impact.
THANK YOU
We'd like to extend our thanks to readers who over the past several weeks, have provided us with emails describing their personal experiences while employed by Priority One Credit Union. The amount of personal accounts sent us, attests that something is sorely amiss at Priority One Credit Union. Lately, he has escalated efforts to trap the people who he believes are leaking information to this blog. It's nothing less than hypocrisy that the worst violator of policy at Priority One is launching a witch hunt to capture employees he believes are violating policies as much as he is. Here are some of the comments sent to us in recent weeks:
"Charles took Diedra to the desk of the person he thinks is writing this blog. They talked about it while walking through collections, the loan department and the member service department."
"Charles took Diedra to the desk of the person he thinks is writing this blog. They talked about it while walking through collections, the loan department and the member service department."
"Rodger [Smock] told Charles that he knows who is writing the blog."
"Wigg says he knows who is giving you information and he's going to get them all."
"Charles was on his cellular telling someone that he has a camera in his office because he doesn't know whose going to get him."
"Wiggington says he is sick of hearing [the name of the woman he's accused of sexually harassing] and he wants that woman out of his life."
"The president has been talking about an employee who crashed the van and how the employee is costing him money and must have been on drugs."
"Charles was in Patti's office talking loudly about Yuling and saying he doesn't need her negative attitude and is going to get rid of her if she doesn't start doing what he says."
"Charles said Mr. Harris screwed everything up and he has spent years having to correct Harris' mistakes."
"Charles was in Beatrice's office telling her people are out to get him."
Well, it seems the President has no thought of guarding confidentiality. Why someone would choose to divulge confidential information in the presence of staff members who should not be privy to the information is quite frankly, inexplicable.
The President says that he "doesn't know whose going out to get him." Really? Who would want him? Does he have any evidence that might lend credence to his statements or is this just more neurotic babbling from a man who loves fabricating stories?
READER'S FAVORITE
AVP, Rodger Smock, made his way through every department in the South Pasadena branch, proudly announcing that a recent article in the "Daily News" disclosed that readers of the publication voted Priority One the "reader favorite." If true, then why is the credit union experiencing an all-time high in accounting closures, reduced membership, and amassing complaints citing poor member services? The publication never mentions how many readers voted Priority One their favorite, so we'lll take the claim with the tiniest grain of salt.
We've recently discovered that several months ago, President Wiggington authorized that all Directors be provided with an allowance of $30 to cover their gas expense when having to attend monthly meetings. Most of the Directors live in or near the city of Los Angeles. The roundtrip drive from their homes to the South Pasadena branch couldn't cost more than $6. So why are they being paid $30 to travel to and from the branch once day a month? And don't they serve as volunteers?
The President also provides all Directors and Supervisors free Internet access. He is able to do this by remotely connecting them to the credit union's network. They are not employees of the credit union, they are supposed to be volunteer officers, so why are they receiving free Internet access?
In earlier posts, we reported that in recent years, the Board was allowed to attend educational junkets, including traveling to Europe, Hawaii and most recently to Las Vegas. During each excursion, most of the Directors including it's Chair, Diedra Harris-Brooks, opted to skip the classes they were sent to attend and instead went sightseeing all at a cost to the credit union.
PERKS TO A VOLUNTARY BOARD
Gasoline Expense
We've recently discovered that several months ago, President Wiggington authorized that all Directors be provided with an allowance of $30 to cover their gas expense when having to attend monthly meetings. Most of the Directors live in or near the city of Los Angeles. The roundtrip drive from their homes to the South Pasadena branch couldn't cost more than $6. So why are they being paid $30 to travel to and from the branch once day a month? And don't they serve as volunteers?
Free Internet
The President also provides all Directors and Supervisors free Internet access. He is able to do this by remotely connecting them to the credit union's network. They are not employees of the credit union, they are supposed to be volunteer officers, so why are they receiving free Internet access?
Educational Junkets
In earlier posts, we reported that in recent years, the Board was allowed to attend educational junkets, including traveling to Europe, Hawaii and most recently to Las Vegas. During each excursion, most of the Directors including it's Chair, Diedra Harris-Brooks, opted to skip the classes they were sent to attend and instead went sightseeing all at a cost to the credit union.
HOLDING EMPLOYEES ACCOUNTABLE
Merit Increases
The President, angered by our frequent reporting about the freeze he placed on all raises just a few months ago, issued a memorandum on July 21st, containing the following message:
"Performance reviews ending 2008 and their 2008 merit increase consideration must be submitted by Friday, July 31st. These must be reviewed, submitted and completed by this date for any past due 2008 merit consideration. No consideration for 2008 merit increase will be honored after July 31st."
At many companies, it's supervisors and Human Resources who are responsible for insuring performance evaluations are completed by their designated due date. Not so at Priority One where employees are required to evaluate their performance. Once completed, it is submitted to their supervisor for review. However, at Priority One, evaluations are sometimes late by as much as one year, pointing to a problem with both supervisors and the Human Resources Department who is to ensure the evaluations are completed on time.
In the meantime, many employees continue to work outside of their job classifications which is illegal under California Labor law and all employees are currently subject to a wage freeze.
In the meantime, many employees continue to work outside of their job classifications which is illegal under California Labor law and all employees are currently subject to a wage freeze.
THE 911
The President recently disclosed that he is considering hiring consultants to delve out solutions needed to resolve the credit union's increasing inability strategies needed to spur business which has been in decline for more than one year. He says he hopes to focus on key problem areas including finding ways to reverse monthly losses, augment business development and finds ways of improving deteriorating employee morale.
He also wishes to develop a means by which to identify "rebel employees" who he says are causing Priority One's decline. He has placed emphasis on the fact that the tactics used to terminate employees must be legal so to eliminate the potential incidence of lawsuits.
It doesn't take a financial wizard to know that his plan will be costly and will offset the credit union's bottom line. What's more, isn't his plan the antithesis of his statements made during the annual meeting that he was seeking ways to reduce spending, "streamling", and "working smarter." We invite President Wiggington to explain what he meant by "working smarter" because what we are seeing isn't sagely or productive. And is he using the monies saved from the company-wide wage freeze to hire consultants?
He also wishes to develop a means by which to identify "rebel employees" who he says are causing Priority One's decline. He has placed emphasis on the fact that the tactics used to terminate employees must be legal so to eliminate the potential incidence of lawsuits.
It doesn't take a financial wizard to know that his plan will be costly and will offset the credit union's bottom line. What's more, isn't his plan the antithesis of his statements made during the annual meeting that he was seeking ways to reduce spending, "streamling", and "working smarter." We invite President Wiggington to explain what he meant by "working smarter" because what we are seeing isn't sagely or productive. And is he using the monies saved from the company-wide wage freeze to hire consultants?
SPENDING MONEY THEY DON'T HAVE
COO, Beatrice Walker. has recently disclosed that she is planning to install the credit union's first Call Center which she is describing as an "one-stop Call Center." The new center will answering incoming calls formerly diverted to all branches, providing account information, transferring funds between accounts and opening new loan applications. However, isn't the ambitious and potentially costly plan inconsistent with President Wiggington's May 2009 declarations that he is seeking ways to reduce spending?
The COO has said she may want to install the center in the South Pasadena branch, in the space located behind the Teller line. What we find peculiar is that in 2008, the President purchased the credit union's current phone system at a cost of $600,000, insisting the system would circumvent having to create a Call Center. Evidently, like much of what the President attempts, the telephone system he selected without the assistance of his executive staff, has failed. Is this again an example of how Charles R. Wiggington, Sr. is "working smarter"? And are the President and COO using money that might usually be spent on wage increases, to build a Call Center?
The COO has said she may want to install the center in the South Pasadena branch, in the space located behind the Teller line. What we find peculiar is that in 2008, the President purchased the credit union's current phone system at a cost of $600,000, insisting the system would circumvent having to create a Call Center. Evidently, like much of what the President attempts, the telephone system he selected without the assistance of his executive staff, has failed. Is this again an example of how Charles R. Wiggington, Sr. is "working smarter"? And are the President and COO using money that might usually be spent on wage increases, to build a Call Center?
FRUGALITY
To save money, the credit union is also reducing budges once used in the development of new business, on marketing and needed to participate in community and city chamber events. Since 2007, the quality of credit union publications including brochures promoting products and services and the annual report have cheapened in appearance. Nowadays, the quality of paper and ink has been reduced suggesting President Wiggington doesn't understand the difference between being cost-effective and looking cheap.
The credit union recently responded to concerns which asked what happened to this year's election. On July 28, 2009, President Wiggington issued the following notice:
Ballots have been mailed for the election of two (2) members to the Supervisory Committee. These ballots must be postmarked by midnight, September 15, 2009. The election results will be in the October newsletter.This info is being provided in the event a member inquires about receiving a ballot.
THE ELECTORAL PROCESS
The credit union recently responded to concerns which asked what happened to this year's election. On July 28, 2009, President Wiggington issued the following notice:
Ballots have been mailed for the election of two (2) members to the Supervisory Committee. These ballots must be postmarked by midnight, September 15, 2009. The election results will be in the October newsletter.This info is being provided in the event a member inquires about receiving a ballot.
Several days after the deadline for submitting nominations had passed, Charles R. Wiggington, Sr. once again violated state law when he accepted a nomination from a member. The member had been coaxed by Director, Bobby Thomas, over a period of almost 2 months, to submit his nomination but the member missed the deadline. Despite being ineligible to submit his nomination, the Board Chair and President made an exception. But why violate state law?
As we've mentioned in previous posts, Board Chair, Diedra Harris-Brooks, is a woman who likes the Board's and Supervisory Committee's current dynamic. The Directors and Supervisors are completely subservient to her every whim and never disagree with any of her decisions. Last year, the President revealed that he and the Board Chair had decided it was imperative that none of the Directors or Supervisors leave. To ensure current Directors and Supervisors remained unchanged, they first orchestrated the mailing of state-mandated notices announcing the election, to only those members who have a checking account and excluding the larger sector of members who only have a savings account. There plan may have worked had we not expose it on this blog.
When Mr. Davidson submitted his nomination, Director, Bobby Thomas volunteered to find a member who nominate themselves and thus reduce the chances of Mr. Davidson being elected. And though Mr. Thomas' nominee submitted his nomination after the deadline, Mrs. Harris-Brooks and the other Directors started a campaign promoting the nominee's name. So why did the Board Chair and President want to derail Mr. Davidson's chances to win a seat on the Supervisory Committee?
Two years ago, it was Dave Davidson who received an anonymous letter mailed to his home which exposed then AVP, Liz Campos, of having overdrawn her account on 24 separate NSF incidents to her Priority One checking account. An investigation which included an audit of Mrs. Campos' account revealed she had been kiting- a federal offense. She had used checking accounts from three different institutions to issue checks in amounts exceeding her account balances. The termination of Mrs. Campos, who the President described as his "friend", incensed the vindictive CEO, who publicly declared, "I'm going to get Dave Davidson!" Apparently, the President was unconcerned by the violation of federal law perpetrated by Mrs. Campos but incensed by the fact his hand-picked AVP was exposed. Doesn't that say a lot about Charles R. Wiggington, Sr. abhorrent character?
The tyrannical and unscrupulous Mrs. Harris-Brooks succeeded in retaining the almost all Black Board and the entire Black Supervisory Committee. Only time will tell what effects the scurrilous tactics employed by the President and Board Chair will have upon the credit union. For the two notorious officers, the credit union's reputation and integrity mean absolutely nothing when all their only objective is gratifying their insatiable wants.
