WEST PALM BEACH, Fla. – Little did the credit union industry know 11 months ago when the calendar turned over to 2003 that six of its president/CEOs would either resign or be fired from their positions by the end of the year. Beginning in February, the Credit Union Affiliates of New Jersey – which has since reverted back to its previous name, the New Jersey Credit Union League – announced its 15-member board had decided not to renew the contract of its president/CEO Russell Clark because, said a League spokesman, “there was a difference of opinion on which direction CUANJ should go.” Chief Financial Officer Tom Shaughnessy was named interim-president, and in April he was named president. Also in April, the Maryland Credit Union League Board decided it too wanted the League to go in a “new and different direction” and did not renew the contract of Robert Steil who had worked at the MCUL for 25 years, the last six as its president/CEO. Michael Marschall, evp and director of government affairs was selected by the board as acting president, and in November the League said it expected to pick a new CEO by January 2004. In June, Larry Johnson, president/CEO of the North Carolina Credit Union League announced his retirement at the end of the year after 31 years of service. In July, New Mexico Credit Union League President/CEO John Radebaugh was named to succeed Johnson (Sylvia Lyon, former vice president of credit union services for the New Mexico League has since been named its new president/CEO). Following just 18 months of service with the Colorado and Wyoming credit union leagues, President James Holt departed from his position on Sept. 4. The circumstances of Holt’s departure remain a mystery, not even the staff was informed of the details of his separation from the leagues. He took over following the retirement of long-time CEO Carroll Beach. While the leagues continue to search for a new leader, Doug Burke has been named acting president. He joined the Colorado Credit Union System in 1986 and has been serving as senior vice president of Colleague Services Corporation. In mid-November the South Carolina Credit Union League announced its president/CEO John Franklin resigned. Franklin had been with the League for 30 years, the last nine of which as its president/CEO. T.E. Delk, a part-time consultant for the South Carolina League and who retired from the president’s job in 1995, was named interim CEO until a permanent replacement is found. A search for Franklin is still underway. At the end of November, Utah League of Credit Unions President/CEO Scott Earl shocked the credit union industry when he informed his board by letter on Nov. 25, of his decision to resign from the league (see related story on page 20). Earl cited the “personal toll” the League’s battle with the Utah Bankers Association had taken on him. Capping off the year in December, Kevin Stewart submitted his resignation as president/CEO of the Connecticut Credit Union Association after more than eight years of service. His resignation is effective Jan. 23, 2004. Citing a promise made to his family who are from Texas, that he would return to that state if the opportunity presented itself, Stewart has accepted the position of executive vice president, strategic services at Texans CU in Richardson, Texas. -

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