Altana Federal Credit Union puts succession plan in motion

The board of directors at Altana Federal Credit Union in Billings, Mont., has appointed Jason Hagadone as the credit union’s next president and CEO. He will succeed Rhonda Diefenderfer, who will retire in May having spent 30 years with the institution, including 20 as president and CEO.

Jason Hagadone, the next president and CEO of Altana FCU

Hagadone has spent his entire career in the financial services sector, including working with Wells Fargo and Stockman Bank. In 2013, Diefenderfer hired him as the credit union’s business lending manager and he was later appointed to the leadership team. He currently serves as vice president of business lending.

“I’m excited to begin this new chapter in Altana’s long and storied history,” Hagadone said in a press release. “We’ll continue to expand upon the foundation that Rhonda has built, and I look forward to contributing to our growth and success moving forward.”

For her part, Diefenderfer retires having led the credit union form $56 million of assets to more than $350 million today, according to data from the National Credit Union Administration. Board Chairman Richard Nauman, said in the release that much of Altana’s growth in the last two decades can be attributed to her focus on serving the community.

“It’s been an amazing twenty years and a true honor and privilege to have served as Altana’s President/CEO,” Diefenderfer said in the release. “I leave behind an incredible team that is ready and able to lead Altana into the next 20 years. I’m excited to watch it all happen from the sidelines.”

Altana FCU earned just under $2.5 million in 2020, according to call report data from the NCUA, about 2.5% more than its earnings the year before, thanks to increases in lending and noninterest income.

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