The topic was "merger strategies" at this week's annual convention of the California/Nevada Credit Union League but one CEO and session panelist has apparently found himself out of a job.
He is Adam Denbo, president and head of the $29 million California Agribusiness CU of Buena Park who spoke as a member of a panel trio discussing how other CUs should prepare and make their CU attractive for future partners.
Denbo spoke on Wednesday at the Anaheim conference but a spokesman told Credit Union Times today "he no longer works here" and that an interim CEO from an affiliated insurance unit has taken his place.
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In addition to Denbo, also on the panel were David Gunderson, president/CEO of the $595 million CU of Southern California, Whittier, which earlier this year had absorbed a smaller California CU in a merger and Jane Walters, NCUA Region II Director.
The merger session was considered a bit unusual for a California/Nevada league conference since mergers have often been seen as a taboo topic in light of dues and image concerns. However, trade consolidations have loomed larger in recent months as an issue that needs airing, sources noted.
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