Eastern Financial posts $49.5 million loss for quarter

[Casablanca Bogart 33027]

If they do find a quality CEO it's too late because it caused people to be out of work for no reasons other than their mistake. It's a said issue that will never be repaired.

[Chick Webb]

Eastern Financial Florida Credit Union
1937-2009
R.I.P.

[Former 10yr Employee]

I was let go after a decade due to the "mistakes" by management when my branch was closed. It's sad they have let this wonderful organization go down the drain. It use to be a great place to work and before Steve M. became CEO I actually had loved my job. There are many innocent people that are being hurt by these stupid mistakes/decisions,(including my family!!! And the families of the employees being affected.) It's sad.

[Casablanca Bogart 33027]

You are to right! Stupid mistakes/decisions, and most hurting taking so much time for for conventions.... we all have paid dearly for these conventions,but, what goes around comes around. It's just a matter of time before all upper management is gone and replaced by good ones that really know what they are doing!.... That is the sad part. Management is an embarrassment to the Credit Union. They all should quit because nobody in the right mind will keep them running a department and/or an institution that way!

[Phillies Fan]

You are correct. I spent a brief time there, and saw that most of the management were lazy, anal morons. None of them would make it in a banking environment outside Eastern. I do feel sad for all the hard working employees that lost their jobs. They deserved much better than that.

[Still Standing in Miami]

The suspense is torture and the chsnges are coming fast. After layoffs are done in the next two regions, the type of business will change and become more commercial like. Members will go through changes and the demands on the workers will be absolutely ridiculous, alot of micro-managing. I think layoffs will occur in the next regions by the time August or September rolls around. Knock on wood people, knock on wood. And Phillies Fan sounds like an SC Employee.

[Employee]

I hate Space Coast, and I hare the changes they are making us go through. I hate that we have to constantly be clocking in and out, I hate that we lost all our hours of PTO that we used to get a year with Eastern. I hate how branches must now work 6 days a week, and no longer get paid straight time, but instead get paid to the minute. I also Noe hate that on top of all the changes they are now taking a week of pay from full timers to hold back from us. We really didn't know hoe good we had it. Space-crap treats us like numbers and in reality that's all they care for! Even Doug Samuels was quoted in an email as saying that "What good is an institution voted best place to work, when thry couldn't even get their expenses in order." Get ready for lay offs and more micro management. I miss Eastern.

Sincerely,
Current Employee!

[Paper Tiger]

This was a comment I made in The readers forum in the Miami Herald on 06/25. THe day EFFCU officially died. EFFCU- RIP

The Obituary for EFFCU should read , EFFCU was murdered. Murdered by a Board of Directors that used the CU for their own personal piggy bank, Murdered by a Board that stood by a CEO that racked up the "largest loss in Credit Union History" A Board that played golf while the good employees worked to save the CU. Murderd by a CEO whose mental compacity was diminished due to brain damage. Murdered by State regulatory agency whose function was to prevent the abuses that were being perpetrated, but did nothing. The CU is survived by the countless employees that worked hard to save the CU but lost their jobs [ some after 20 years or more ] due to the negligence of these[ the board and CEOs ] people. May the faces of these jobless employees forever haunt these selfish people and may they always be remembered for the pain they inflicted on the employees of EFFCU

[mike]

How about Bernie?

[Payback]

I Love how the Home Equity Dept Management fell apart, I hope you both are reading this Lourdes & Florence. LMAO.....