Tonight, a former longtime member of the Board of the Holy Redeemer Credit Union is speaking out and saying President of the Board Wendy Castillo should step aside - at least while her loan is investigated. As we reported on Friday night, Castillo made a 622 thousand dollar loan from the HRCU in June 2024 and in September, HRCU's internal auditor raised a number of flags - saying that key documentation was missing and that there were deviations from the board's policy and procedures. Castillo has maintained that all proper procedures were followed and that all requirements were met.
But, Albert Vaughan who was a member of the board when the report first came down from the Internal Auditor said that he feels the Credit Union needs to send a strong message to the over sixty thousand members that their money is safe:
Albert Vaughn, Former HRCU Board Member (2016-2025)
"You know I find myself in a very difficult position is that being on the board I am not privy to say anything about what I have read or what I have heard on Channel 7. And so it would only be fair that I cannot comment on that document. And how I feel, how I felt, that was expressed clearly in the boardroom then."
"But I must say that when I saw the news on Channel 7, it make you really say why go through all this? Right? Why put the credit union at such a high stake? People concerned, member owners are concerned about their money there. That does not mean the president is indeed guilty of what Channel 7 report is - but for all decency man, something to look at, something to say to the member owners: be safe, your money is safe. If indeed something happened, we will investigate it. And you had a fiducial duty to your our member owners to say, something wrong, let's fix it. In the meantime, I would say, if I were on the board, I would then ask the president to, you know, step aside until this is clear until this is over. It doesn't mean that you are guilty, but it means that it gives people confidence, I would hope that would happen. I would hope If the president don't do it then somebody from the board would lead that discussion in their boardroom to say, listen it is just best that you step aside until this is cleared up."
Jules Vasquez
"From your experience have you seen many reports like that?"
Albert Vaughn, Former HRCU Board Member (2016-2025)
"As I mentioned, Jules. I cannot say because it would put me in a very bad position. I saw the report. You know, you said that they are going to lawyer up. I don't want no lawyer to write me,I have no time to go to court on these craziness, but it's the people money, it's the people money. The most important thing, it's member owner money, that institution belongs to the people, it is not an individual. And so I would say - as I said before - c'mon, this thing noh hard, right? This thing noh have to be this rough. The thing is that get this thing sort out. If there is discrepancies, if there's any (inaudible) I am sure we need to address it, I am sure we need to move forward. I am looking forward for the Central Bank to move in - who's the regulator - and say, listen, your money is safe, I have the watchdog on these people. I am sure that what happened may be a slip, or may be a slip or two, or may be slip or three, it doesn't matter: the thing is that address it, let's move forward, give people that security."
