HIGHTSTOWN, N.J. — The New Jersey Credit Union League announced today that CEO Bob Walls is no longer employed at the league.

Walls was named CEO in July of 2005. He was formerly CEO of the Delaware Credit Union League.

A league spokesman said no further details are available, but assured N.J. credit unions that the league has a dedicated staff that is committed to serving them.

“We wish Bob the best and thank him for his accomplishments during his tenure. We extend our sincere good wishes to him in all his future endeavors,” said Rina Pantano, chairman of the NJCUL Board, which is in the process of naming a search committee.

The top spot at the league has not been very stable. Prior to Walls, the league was led by Tom Shaughnessy, who was later fired and convicted of embezzling approximately $300,000. Shaughnessy was named CEO in April of 2003 and served for just over a year. Before Shaughnessy, the league was led by Russell Clark who held the job for six years. The board did not renew Clark's contract.