HIGHTSTOWN, N.J. – After operating under an interim president for nine months, the New Jersey Credit Union League has named Robert Walls, former president of the Delaware Credit Union League, as its new president/CEO effective July 25. He takes over the leadership reins of the organization from League VP Mary Lee Kleinkauf who has been serving as interim president/CEO since October 2004 following the League's unanimous decision to terminate then president/CEO Thomas Shaughnessy. The League never explained its exact reason for terminating Shaughnessy who had joined the League in 2002 as its chief operating officer and was promoted to the corner office in April 2003 after serving as interim president for two months following the League's decision not to renew the contract of its then-president Russell Clarke. However, reports surfaced earlier this year that Shaughnessy was being investigated by the Mercer County prosecutor's office for possible embezzlement. The New Jersey League stated earlier that it had undergone an independent audit and filed a bond claim with its insurance company, CUNA Mutual. Kleinkauf will re-assume her former VP responsibilities with the League. She said she is looking forward to working with Walls. "We've known each other for several years and I am happy he's joining us here in New Jersey. I'm excited about this new beginning and about helping the credit unions from across our state benefit from his direction and expertise." Walls said he is excited about the opportunity to work with New Jersey credit unions. "I've heard so much about the good work being done by the staff and the board and I look forward to joining the team. I think the League will emerge as one of the brightest in the nation. There are great people here and together, we're going to do great things." In addition to Walls' history with the Delaware League, he has also served as chairman of the Credit Union House Board and was also a member of the CUNA Board. He's also been active with the American Association of Credit Union Leagues. He is currently a member of the CUNA ethics committee, and a member and vice-chair of the CUNA Federal Credit Union Subcommittee. Walls holds a masters degree in human resources management from Wilmington College, and he is a graduate of the Penn State Judge/Bradley Credit Union School. He is a former Delaware State Trooper and a graduate of the FBI National Academy. -

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