Why Barbados Public Workers is in the News Again

In recent weeks there has been noise in the traditional and social media space triggered by concerns coming out of the largest credit union in Barbados. It is no secret the blogmaster in the not too recent past registered concerns about how some matters were being managed at Barbados Public Workers Cooperative Credit Union (BPWCCUL) and subsidiaries, specifically CAPITA Financial

It says a lot about the current state of member relations at BPWCCUL a few vocal members felt driven to share concerns in the public space. The blogmaster must admit a lot of the concerns are steeped in ignorance. Several of the few voicing concerns readily admitted to not having attended AGMs or having read relevant laws and rules governing how members should interact with the credit union it owns. For the purpose of this intervention the blogmaster will ignore those prominent persons from other credit unions seeking to ‘exploit’.

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Barbados Public Workers Cooperative Credit Union Members Urged To Take Back Their Credit Union From The Few Who Have Hijacked It

Submitted by Cat Eyes

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Clorinda Alleyne, CEO, Public Workers’ Co-operative Credit Union Limited

  1. How is it that the CEO of this credit union makes almost $20,000 per month, inclusive of allowances. More than the Prime Minister of this country?  More than what some executives of private sector banks and insurance companies earn; more than some executives who have to perform and are appraised on performance. She also receives leave passage – the type that longstanding civil servants receive- holiday with passage paid for by the members. They have smartly sat down and crafted an exceptional salaries and benefits package for Alleyne who adds no value to the institution if you were to review her performance. Her salary is almost 6 thousand dollars more than her deputy the Legal Counsel. Those gaps in salary ranges are highly unusual. The CEO of the PW credit union has no financial qualifications, save for the credit union courses, and was a less than stellar attorney before joining the organisation as its Legal Counsel, yet through the machinations of Paul, and certainly not on ability or skill she is the head of this organisation.
  2. The CEO has a chauffeur who is paid out of the organisation’s coffers. The reasoning was that she was suffering from dizziness so she could  not drive. For five years or more this has been occurring. It was suggested that the driver, who is a messenger at the credit union, be paid the overtime for chauffeuring her, out of her salary. He also picked up her children from schools that are within walking distance of the credit union..
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Concerned Barbados Public Workers Cooperative Credit Union Members Speaking Out

Submitted by BPWCCUL Concerned Members Coalition

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Paul Maxwell,Treasurer of BPWCCUL, a Director of CAPITA, a Director of BPW Financial Holdings and was recently named as CEO of CAPITA – accused of conflict of interest

Members of the Press

The Annual General Meeting of Barbados Public Workers Cooperative Credit Union will be held on June 18th 2011 and will be a watershed as a large number of fed up and concerned members will be there to let their voices be heard.

The major issues are:

  • Two cases of fraud which are being covered up by the Management, Board and Supervisory Committee. These fraud cases were not reported to the external auditors or to the regulator as required by section 215 of the Cooperatives Societies Act. Indeed the CEO and Management did not follow the procedures set out in their own anti-fraud policy — which should have seen the Internal Auditor immediately alerted and the necessary investigations conducted. Two staff members have lost their jobs so far and dozens of members whose cards were created by one particular individual are at risk. While these two staff members are no longer with the organisation, there is evidence that they did not act alone. The members are therefore concerned about any involvement by others including supervisory and management staff.

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