After 25 Years of Service, LICU Releases General Manager

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Updated: July 27, 2015

Following word that the board of directors of the La Inmaculada Credit Union met and decided to terminate the service of General Manager Yolanda Gomez, today a statement was issued by the institution confirming what we reported over the weekend. Information to LOVE NEWS is that last week Friday in a “meeting of the Board of Directors it was unanimously decided that there is enough evidence which warranted the termination of Yolanda Gomez as the General Manager of the La Inmaculada Credit Union Limited. On July 24, 2015 a letter which provided further details notifying Gomez of this decision, was sent and received on her behalf.” The statement once again comes short of a proper explanation of the circumstances that led to the firing of Gomez who has been at the helms of the institution for more than 24 years.  The most detail it offers is that Gomez was put on administrative leave on April 29, 2015 as a result of “strong indications of non-compliance with proper banking procedures, coupled with improper and questionable decisions taken by Mrs. Gomez during her tenure.” The board of directors through the statement explain that putting Gomez on administrative leave was necessary in order to “allow the Central Bank of Belize as Regulator, and the Credit Union’s Financial External Auditor to perform the requisite investigations.” The statement goes on to explain that “in full exercise of duties as supervisors to protect investments of the members-owners, the Board of Directors carefully considered information revealed from the investigations of both the Central Bank of Belize and the Financial External Auditor.  In more than one occasion and in line with the investigation, Mrs. Gomez was afforded the opportunity to make herself available to assist in the investigations but she did not do so. ”The board of directors announces it will not divulge more information as it may prejudice ongoing investigation and reiterates the services of the institution continues as normal at its Orange Walk branch and Belmopan office. Last week some concerned members of the institution carried out a petition drive in order to request an urgent AGM of the credit union.  When we check today one of the organizers told us they have managed to get more than one thousand signatures and are consulting with their legal representatives. We will continue to monitor the developments