La Inmaculada Credit Union shareholders demands answers

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Updated: June 25, 2015

Some member shareholders of the La Inmaculada Credit Union Limited in Orange Walk Town are demanding an update from the institution following the suspension of its General Manager Yolanda GomezSince the beginning of May, Gomez has been on administrative leave.  Following pressure from members and the media, the board of directors was forced to issue a statement informing the institution’s shareholders about the circumstances that led to Gomez being put on suspension.  The release was vague and Chairperson of the LICU board of directors, Ena Martinez, refused to explain further about the ongoing matter. All the release said was that an investigation was under way but was short in who was conducting the investigation and for what purpose the investigation was being carried out. Over a month has elapsed and with no word coming out of the financial institution, a few of the shareholders have joined their voices in expressing concern over what is happening at the Credit Union.  David Espadas has been with the LICU for more than 10 years.

David Espadas, Shareholder

As owners of the credit union we need to get information on what’s going on, it’s been over a month now that Mrs. Yolanda is on administrative leave and we don’t know anything whatsoever that went on in the place there. We should have had our annual general meeting, it has been postponed and the concern for most of the members that you meet on the street is what’s going on, we want to know. It’s been over a month now and nobody has been in the media, explaining what is happening in that place.

 Arturo Cantun

“ So far, what do you know led to Ms. Yolanda being placed on administrative leave and what is happening at the moment at the credit union?

David Espadas, Shareholder

“Officially we don’t know anything as I have said before. It’s just speculations that we heard that, some people say its fraud, people say it’s because of some transition within some insurance company with another, it’s a lot of hearsay. We don’t want to base on hearsay. We want to get the direct information what’s going on.  

 Estella Torres has been a member of the institution for 29 years and has borrowed money throughout those years but a recent application was denied which leads her to believe there is financial instability at institution.

Estella Torres, Shareholder

My concern is because I went to get a loan for my young son because he wanted a laptop but I didn’t get the loan. Ms. Urbina told me that I could not get the loan and that makes me feel like I have not been treated well as a member and a shareholder of the La Inmaculada Credit Union.”

Arturo Cantun

“Now you compared this to previous experience that you said you had before all of this that was happening, things were better. Now it has practically changed totally.

Estella Torres, Shareholder

“Oh yes, before we had never had one single problem with her. I have been working with her for about thirty years; I am a member of the La Inmaculada Credit Union. I had no problem until today I have problem with La Inmaculada Credit Union. I don’t know why. What is the problem right there, I don’t have the trust. Nearly thirty years, I have been getting loans all the time; student loans, everything I have gotten there, everything. With Ms. Yolanda I have never had a problem.

Espadas told Love News that the members’ main concern is the lack of information which leaves room for speculation as to what is happening at the institution.

David Espadas, Shareholder

If someone is guilty, the person is guilty, If someone is innocent, he is innocent, we just want to know. If the person is guilty, let him or she back the consequences. We want the  acting manager and the chairperson of the board go on the media or take out a press release, whatever and inform us what’s going on, we are concerned, and update us on what is happening. What have they found because like I said, hearsay is that Central Bank has already come and audited the credit union. If they are on a witch hunt, we don’t know. We want to know. It’s affecting the credibility of the credit union by not knowing what’s going on in the place. When we have our AGM we need to have Ms. Gomez present. We don’t want our AGM without Ms. Gomez.”

Love News tried to get a comment from acting manager at LICU Yadeli Urbina who told us they will have a meeting after which they will inform shareholders.  The group of concerned shareholders have organized a peaceful demonstration to be held tomorrow in front of the institution.