“Bob helped give the Delaware League a national presence it would never have enjoyed,” said Joel Romaine, chairman of the Delaware League and vice president/operations officer of DPL CU of Newark, Del.

Romaine cited various product innovations undertaken by Walls during his tenure as well as his chairmanship of Credit Union House in Washington. “It was all a little surprising to me when I found out he had been dismissed,” said Jim Everhart, president/CEO of Louviers CU of Newark and a past chairman of the Delaware League. Everhart said Walls was always “politically savvy and did an outstanding job for our league,” adding also the ex-Delaware head had a prominent role on a CU advisory council of the Federal Reserve Bank of Philadelphia. In firing Walls, the New Jersey League made mention in a brief press statement about the occurrence of “change” adding that while removing him the league board thanked Walls for his accomplishments and extended “sincere good wishes” in his future endeavors. But a handful of New Jersey CEOs said they were both surprised and angry about Walls' departure claiming they understood he was doing “very competent work” and were puzzled at the reasons for his dismissal contained in phone messages and letters sent last week to New Jersey CUs. “I'd just like somebody to tell me why,” declared Alfreda Earnest, president/CEO of the $53 million Deepwater Industries FCU in N.J, claiming “all I get from anyone I've talked to on the board are pat answers. Is it personalities or what? I thought he was doing a great job.” Earnest, secretary-treasurer of the League's South Jersey Chapter, said she has been in touch with other CUs in the area and “no one seems to have any more information than I do.” Susan Rodriguez, president/CEO of the $30 million Baker FCU in Phillipsburg, N.J. said she “utterly shocked and totally dismayed” about his departure since “he was the best thing that ever happened to our league. He cared for the small credit unions and was a true credit union advocate.” Rodriguez said she is prepared to resign the CU membership, something she had considered doing before when the league underwent similar trauma over the 2004 dismissal of Walls' predecessor, Tom Shaughnessy, caught and convicted in a $300,000 embezzlement scandal. Officials of the New Jersey League remained tight-lipped about the Walls firing with a spokeswoman referring a reporter to a press release which “sums up our position.” The league has said a search for a successor is underway with Christopher Zahne, director of finance, serving as acting CEO. Walls told Credit Union Times that he hasn't had much time to think about his future but he would consider staying in the credit union industry. “I have heard from a lot of credit union people. There are great people in credit union land,” said Walls, who turns 60 later this year. Meanwhile, Delaware CU executives said they still remained mystified by the New Jersey decision based on Walls' record in the state. “I'm in the dark on what happened as much as anybody else,” and that was after Walls stopped in to the Delaware League headquarters office in New Castle last Monday, said Patrick Mahaney, who succeeded Walls as president/CEO of the Delaware League. Walls resigned the Delaware helm in July 2005 to accept the New Jersey post. Walls had a home in nearby Magnolia, Del. and commuted to the job in Hightstown, N.J. headquarters of that state league, while also maintaining a Northern Jersey condo. Mahaney said he understood the New Jersey League required Walls to have a residence in that state as part of his contract. Regarding his firing, Mahaney said, “I know he was pretty successful in Delaware but I don't know the mindset of those in New Jersey.” Romaine said Walls was a “big mover on Credit Union House” and generally gave his state “a bigger national standing” “We are usually part of the industry backwaters but not with Bob,” Romaine concluded. The chair of Delaware Alliance FCU, Betsy Cole, said she also was devastated to hear the news of his departure calling him a “hero to me” because of his role in helping salvage her New Castle CU after an unhappy run with a former CEO who she said nearly ruined the CU five years ago. “I was in tears until Bob helped guide us through it since we as directors were simply lost as to what to do next,” said Cole. –[email protected]