The collapse of an Oregon merger deal which would have formed the state's fifth-largest credit union can simply be blamed on the unexpected, the head of one of the participants, the $148 million Mid Oregon CU acknowledged Wednesday.
In the case of the $661 million Northwest Community CU of Springfield merging Mid Oregon of Bend, the unexpected turned out to be the retirement of Helen Byrnes, the former CEO of Northwest Community who left last spring deciding to take care of her husband stricken with a sudden illness.
“We had made our plans to work with Helen in charting our merger but all of a sudden everything is up in the air and they are looking for a new CEO,” explained William Anderson, the president/CEO of Mid Oregon.
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