Suspended SFXCU President Raises Concerns Over Administration and Communication Issues

Suspended SFXCU President Raises Concerns Over Administration and Communication Issues

The suspended President of Saint Francis Xavier Credit Union (SFXCU), Everaldo Puck, has written to the Registrar of Credit Unions, Kareem Michael.  According to Puck, this letter is his third correspondence to the registrar that has gone unanswered and unacknowledged.  The letter registered several concerns on behalf of the credit union’s board of directors that currently remain on suspension.  The first has to do with the ongoing term of the Administrator that appointed in March 2023 with a one-year agreement.  The board is asking whether an official extension was given to the Administrator without their knowledge as his term should have expired in March. The second point of contention has to do with the change in Administrator. According to Puck, the Registrar has been hostile to the Board and that it was only through the media that the board learnt that the Administrator had been changed from Martin Marshalleck to Marlowe Neal.  The third point has to do with the lack of attention by the Administrator as it relates to the business at the credit union. Puck cited Neal’s current situation as the Receiver for the Stake Bank Project that has dominated his time and very little left to rectify any matters at the credit union.  The final point by the board has to do with the rationale that the Registrar cited when he had injected an Administrator at the facility.  Puck has countered the reasons given, stating that there were no discrepancies as the Registrar had provided.  Puck also noted that the Registrar has blocked the line of communication by not informing the board of his decision to remove the General Manager, Rafael Dominguez Senior.  Additionally, the letter noted that the last recorded special meeting with the members/owners of the credit union was under Marshalleck.  He noted that since Neal’s take-over there has been no meeting with the shareholders.

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