HIGHTSTOWN, N.J. — The New Jersey Credit Union League's CEO position hasn't been very stable. The league announced last week 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 there were no other details available, but assured N.J. credit unions that the league has a dedicated staff that is committed to serving them. Director of Finance Christopher Zane will manage day-to-day operations until a replacement is hired. "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.

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.

New Jersey has 227 credit unions serving 1.2 million members. Under Walls, the league did launch the Utah League's popular Bob the Credit Union Guy branding campaign.