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HIGHTSTOWN, N.J. – In a move that surprised many New Jersey credit unions and still has some asking why and speculating on reasons, the board of the New Jersey Credit Union League terminated Tom Shaughnessy as president/CEO of the League. Shaughnessy was in Hawaii attending CUNA’s Future Forum when he was informed of the board’s decision in October. League Vice President Mary Lee Kleinkauf was named interim president/CEO until the board names a new person to the position. Shaughnessy had been president/CEO for only a little more than a year – he was named to the spot in April 2003 after serving as interim president of what was then called Credit Union Affiliates of New Jersey when the board did not renew the contract of its then-president/CEO Russell Clark who had worked in the position since 1997. Shaughnessy had worked as Chief Operating Officer at CUANJ under Clark. League spokesperson Sharon Dilling said the board is conducting a nationwide search for a new president/CEO.

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