Cuenca

Plaintiff appeals from a judgment entered for defendant after defendant’s motion for summary judgment was granted. He contends the trial court erred in granting the summary judgment; we disagree and affirm.

Plaintiff Cuenca was formerly the manager of the Safeway San Francisco Employees Federal Credit Union (Credit Union). In the spring of 1973 questions about the propriety of plaintiff’s conduct were brought to the attention of the governing bodies of the Credit Union. The Credit Union in question is closely regulated by federal statute. Under federal regulations it is required to have a supervisory committee which is responsible for conducting audits of the Credit Union. (12U.S.C. § 1761 d.) The supervisory committee is appointed by the board of directors and reports to it.

In the course of investigating allegations against plaintiff, the supervisory committee and its chairman, Mr. Holbrook, made various oral statements and issued a written report concerning plaintiff. This report outlined suspicions that plaintiff was receiving kickbacks on insurance policies placed through the brokerage agency of his brother, that plaintiff was spending much of his time doing…