NASCUS Chairman Resigns
John Kolhoff, who served as chair of the NASCUS board of directors for 10 months, resigned from that position Monday, citing increasing responsibilities in his role as a Michigan regulator.
Kolhoff, director of the Office of Credit Unions with the Michigan Department of Insurance and Financial Services, submitted his resignation to NASCUS, effective June 2, according to a NASCUS spokesperson.
Michael Wettrich, deputy superintendent for credit unions with the Ohio Department of Commerce’s Division of Financial Institutions, was named the new NASCUS chairman. A NASCUS representative said the organization would not be publicizing the turnover.
Kolhoff, who was elected chair at the 2013 NASCUS annual meeting in Idaho, was unavailable for an interview. He asked a staff member to respond to an inquiry from CU Times.
“John is thankful for his time as a member and chair of the NASCUS board, and looks forward to representing Michigan’s state-chartered credit unions as a continuing active member of NASCUS,” said Caleb Buhs, public information officer for the Michigan Department of Insurance and Financial Services.
Kolhoff’s departure comes during a time when the NASCUS board and advisory council are searching for a new CEO. President/CEO Mary Martha Fortney, who has been with the association for 21 years, announced in February that she plans to retire.
The association previously said it expects to name a replacement during the fourth quarter of 2014.
Mike Juratovac, chief executive officer at O’Rourke & Associates, which is assisting with the NASCUS executive search process, did not return a call seeking an update.
Buhs denied speculation that the timing and abrupt nature of Kolhoff’s resignation means he stepped down from the board, and the group’s executive search committee, in order to apply for the CEO position himself.
“NASCUS accomplished numerous goals during Kolhoff’s tenure as board chair, but due to other priorities in his role as a Michigan regulator he felt it was time to step back from the commitment required to be an effective board member,” he said.
Kolhoff became director of the Office of Credit Unions in 2013. In that role, he is responsible for safety and soundness supervision of 186 state-chartered credit unions and information technology examinations for all state-chartered credit unions and banks, Buhs said.
Kolhoff has been a member of NASCUS since 2003 and began serving on the board in 2011.
He served as NASCUS’ secretary/treasurer from June 2012 to January 2013.
According to Kohloff’s LinkedIn profile, he has been a member of the Federal Financial Institutions Examination Council’s Information Sharing Task Force since 2009 and served as a trustee and chair of the National Institute for State Credit Union Examination from 2008 to 2013.