Citing personal reasons, Raymond Del Nero, president/CEO of the$1.8 billion Merck Employees Federal Credit Union in Rahway, N.J.,has resigned from his position on the New Jersey Credit Union League Board of Directors effectiveimmediately.

“Ray was an integral member of the Board and we are verysorry to see him leave. His perspective of the industry and hispassion for helping all credit unions in N.J. will be missed,” saidLouis Vetere, NJCUL board chair and president/CEO of the $281million Garden Savings Federal Credit Union in Parsippany, N.J.

The NJCUL board of directors will be accepting submissions fromcandidates interested in filling the vacant position on theboard.

According to the NJCUL's bylaws, “the person selected to fillthe vacancy shall be required to run for election in the nextelection following their appointment, for the balance of theremaining term, if any.”

Del Nero's term is to expire at the end of 2014, meaning thisappointment would expire at that time, in either scenario.

“I would like to thank Ray for his service on the board ofdirectors. Although it has only been a short time since my arrivalat the league,” said NJCUL President/CEO Greg Michlig said. “Iappreciate the support he has given me and recognize his manycontributions to the credit unions of New Jersey.”

As a part of its charter, the Governance Committee of the NJCULboard of directors shall review and determine candidate eligibilityaccording to the NJCUL bylaws and nomination/election rules.Interested candidates are to complete the Special Call for Nominations Form and submit itto Governance Committee Chair Leo Ardine no later than Oct. 30.

Because Del Nero was a Tier C “At-Large” director, theGovernance Committee will accept submissions from qualifiedcandidates of any asset size credit union, the league said.

The NJCUL board will then consider the qualified candidates andfill the vacancy no later than Nov. 15, the league said.