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May 27, 2022

No Charges Filed Against Credit Union Official, but Investigations of Alleged Assault Continue

Charges have still not been filed against anyone at Saint Francis Xavier Credit Union, following an alleged assault on two of the credit union’s supervisory committee members. Chairperson of the committee, Mayet Castillo was part of a panel that called a press conference on Thursday to explain what transpired on Wednesday, when the incident allegedly happened. The contention started last month when the credit union’s General Manager, Rafael Dominguez, was reportedly fired ten days before his contract expired, and the credit union management appointed a Human Resources Committee to take on the responsibilities of the elected supervisory committee. Credit union members, along with the supervisory committee officers have protested and objected to what they call illegal activities within the management. They, along with Dominguez have maintained that there have been instances of embezzlement that have occurred and that when Dominguez attempted to fire someone on those grounds, the management stopped him and fired him instead. On Thursday, Castillo called a press briefing and explained that the committee members were at the credit union on Wednesday doing their usual work when a member of the institution’s management entered the room and grabbed her by the throat and the arm and shouted that he did not want them there. She said the credit union official took possession of her phone and threw it to the ground before he proceeded to strike fellow committee member, Jorge Cobb with a chair and then with his fists. Cobb reportedly sought medical attention and has received stitches for a wound on his left ear. Castillo said they went to file reports with the Corozal Police Station, but a check with the Police Department revealed that they are investigating the matter. Castillo implored the Central Bank, as the regulatory body for financial institutions, to intervene in the ongoing contention.


Mayet Castillo

Mayet Castillo, Chairperson, St Francis Xavier Supervisory Committee

“Central Bank needs to carry the role as our regulators of this institution because Mr. Cobb and I have informed the Governor, as yesterday, when we came out from the police station. This is the email that we sent to Central Bank. So, we leave it in their hands to see if they are effective and they can do what they’re supposed to be doing.”


The Central Bank has informed News Five, however that they will not intervene in the affairs of the credit union since it is a private entity. Previously, the Central Bank issued a press release in which it informed that another release issued by some members of the credit union earlier this month titled “Long Overdue Annual General Meeting,” contravenes the Law. Some members of the credit union had been planning to hold their own Special Meeting and their own Annual General Meeting as well on grounds that if they had sufficient members in quorum in agreement with the plan, it would be legal. The Central Bank release also stated that the Registrar of Credit Unions, who happens to be the Governor of the Central Bank, was aware of the dispute between the credit union Board of Directors and the former General Manager, Rafael Dominguez. Furthermore, the Registrar was also aware of “persistent unauthorized actions of some members of St. Francis Xavier Credit Union Limited.”

Viewers please note: This Internet newscast is a verbatim transcript of our evening television newscast. Where speakers use Kriol, we attempt to faithfully reproduce the quotes using a standard spelling system.

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