The tenures of two se­nior staff mem­bers at East­ern Cred­it Union, who have been de­scribed as “lead­ing fig­ures in a sub­ver­sive team col­lud­ing with an em­ploy­ee of the Com­mis­sion­er’s (of Co-op­er­a­tives) Of­fice,” have been brought to an end, Deputy Chief Ex­ec­u­tive Of­fi­cer Kester Lash­ley an­nounced yes­ter­day.

And with those two em­ploy­ees gone, Lash­ley said he is “fair­ly con­fi­dent” that this brings to an end the re­cent chap­ter of neg­a­tive press against the cred­it union.

“I again want to thank those ex­ec­u­tive man­agers who re­sist­ed these sub­ver­sive in­flu­ences,” Lash­ley said.

While Lash­ley did not name the em­ploy­ees or their port­fo­lios, Guardian Me­dia un­der­stands that the cred­it union’s Group Fi­nan­cial Of­fi­cer Mar­lon Bou­caud, who had been placed on ad­min­is­tra­tive leave, was no longer em­ployed with the cred­it union as of yes­ter­day.

Last De­cem­ber, for­mer act­ing CEO Sher­ry-Ann Mc Don­ald-Joseph was sent on 30 days en­forced va­ca­tion leave, which was then fol­lowed by ad­min­is­tra­tive leave be­fore she was sub­se­quent­ly dis­missed on March 23.

The cred­it union’s Hu­man Re­source Man­ag­er is still said to be on ad­min­is­tra­tive leave.

Lash­ley said the re­cent loss of the two un­named se­nior staff em­ploy­ees was a re­sult of an in­ter­nal in­ves­ti­ga­tion con­duct­ed by the cred­it union.

He said the in­ves­ti­ga­tion was done fair­ly.

How­ev­er, the two em­ploy­ees were not fired, Lash­ley said.

But Lash­ley did not elab­o­rate on how their tenures end­ed, on­ly say­ing they were not on con­tract.

Yes­ter­day’s press con­fer­ence was at­tend­ed in per­son by East­ern’s Vice Pres­i­dent Arvin Isaac and Aman­da Aguil­era-Lobin.

No­tably ab­sent was East­ern’s Pres­i­dent Richard No­ray, who Lash­ley said was un­avail­able be­cause he was do­ing a pre­sen­ta­tion for his doc­tor­al de­gree.

The Com­mis­sion­er’s of­fice had re­cent­ly con­duct­ed an en­quiry in­to the cred­it union’s op­er­a­tion but Lasley said so far, he has not re­ceived any in­for­ma­tion about it.

“To date, we have not re­ceived any re­sponse to the en­quiry or the let­ter I would have writ­ten to the of­fice call­ing for the re­sults of that en­quiry,” Lash­ley said.

Last month, re­gion­al cred­it rat­ing agency Caribbean In­for­ma­tion and Cred­it Rat­ing Ser­vices Ltd (Cari­CRIS) ex­pressed con­cern about East­ern’s fu­ture “sta­bil­i­ty and fi­nan­cial per­for­mance,” as it out­lined that the cred­it union had been un­co­op­er­a­tive in pro­vid­ing in­for­ma­tion nec­es­sary for it to com­plete its sur­veil­lance re­port.

As such, ECU was placed on Rat­ing Watch – De­vel­op­ing.

How­ev­er, ECU ex­pressed “great dis­ap­point­ment and con­cern” with that as­sess­ment from Cari­CRIS.

At­tor­ney Lloyd Robin­son, who at­tend­ed yes­ter­day’s press con­fer­ence vir­tu­al­ly, said the con­tract be­tween Cari­Cris and ECU had been re­viewed and a le­gal opin­ion would be pre­sent­ed to Lash­ley soon.

Lash­ley said East­ern is a “strong and sta­ble or­gan­i­sa­tion.”

“East­ern Cred­it Union has a rich his­to­ry, one of hum­ble be­gin­nings and to­day we can proud­ly say that we are a mul­ti-bil­lion-dol­lar or­gan­i­sa­tion with over 200,000 mem­bers. This growth was no easy feat, through hard work, ded­i­ca­tion and the sup­port of our mem­bers and staff we have reached this far and we will con­tin­ue to grow as the largest cred­it union in the coun­try,” he said.

East­ern cel­e­brates its 49th an­niver­sary this year.