Thank you for sharing!

Your article was successfully shared with the contacts you provided.

HIGHTSTOWN, N.J. -A five-person steering committee appointed by the Board of the New Jersey Credit Union League has selected HRValue Group to conduct a national search for the organization’s new president/CEO. HRValue Group has set a target date of the end of April to find a new candidate for the position. Former president/CEO Tom Shaughnessy’s contract was terminated by the League Oct. 25 for undisclosed reasons, but Acting President/CEO Mary Lee Kleinkauf who had been VP of the League, said “the board lost faith in him.” Shaughnessy was the second president/CEO NJCUL had in two years. He was appointed to the position in April 2003 and had previously served for two months as interim president when the board of what was then called Credit Union Affiliates of New Jersey decided not to renew the contract of then-president Russell Clark who had worked in the spot since 1997. Shaughnessy had worked as chief operating officer under Clark. Kleinkauf said the board has been doing its due diligence and “some further audit procedures and investigation” in to the circumstances surrounding Shaughnessy’s termination. In addition to firing Shaughnessy, Kleinkauf said “two or three” other people at the League who had been hired by the former president/CEO and had only worked at the League for about a month, have also been let go from their positions. Kleinkauf could not disclose what their positions had been, but she emphasized that there was no implication in their dismissal and that they were let go because their job responsibilities overlapped with other positions. “They didn’t have any legitimate job responsibilities,” said Kleinkauf, adding that the board hadn’t questioned their initial hirings because “from their point of view, the CEO has the prerogative to hire, fire and realign the staff.” Asked whether she had thrown her hat in the ring to be considered for the president’s chair, Kleinkauf said “quite possibly.” She added that, “I respect the board for wanting to do a national search, I want them to find the right person for the spot, whether it’s me or not.” The New Jersey Credit Union League staff currently numbers 11 people. The League has an 82% affiliation rate – 115 credit unions – of all CUs in New Jersey. -

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times
Live Chat

Copyright © 2022 ALM Media Properties, LLC. All Rights Reserved.