Board Names Paula O’Rourke New President/CEO
After more than 35 years at Linn Area Credit Union, the last five (nearly six!) of which she served as President/CEO, Jenny Lorenz has announced her retirement. Her final day as President/CEO will be June 30, 2021; she will continue in a consulting role at Linn Area Credit Union through December 2021 to help transition the leadership role to Paula O’Rourke, who currently serves as the Senior Vice President of Strategic Planning & Operations/Finance.
“Linn Area Credit Union was fortunate to have a driven and visionary leader in Jenny Lorenz,” said Chairperson of the Board Joyce Fowler. “Jenny has led us through many recent challenges, such as the pandemic and the derecho. But more than that, she has been a constant, positive force in our organization for the past 35 years. As President/CEO, she helped grow the credit union from $360 million in assets to more than $545.5 million. We are so grateful for all of Jenny’s hard work and dedication.”
Jenny notified the Board of Directors of her upcoming retirement over a year ago, giving them the opportunity to carefully consider their alternatives in selecting a new President/CEO. More than 80 candidates applied for the open President/CEO position, and, ultimately, the Board of Directors chose Paula O’Rourke. “Paula impressed us with her financial acuity, her vision for the future, and her leadership abilities,” Chairperson Fowler said. “She was truly a standout.”
Paula has been a leader in the financial services industry for more than 20 years. In April 2015, she began at Linn Area Credit Union as the Vice President of Strategic Planning & Operations/Finance, and in July 2017, she was promoted to Senior Vice President. Working closely with Jenny, the rest of the management team, and several cross-functional teams, Paula has been instrumental to all of Linn Area Credit Union’s major projects in recent years, including launching new products and services, as well as planning and implementing our system upgrade.
“We are so pleased to have Paula take on the role of President/CEO,” said Chairperson Fowler. “We’re excited about the future!”