Linn Area Credit Union President/CEO Jenny Lorenz Announces Retirement
CEDAR RAPIDS, IA, June 1, 2021 – After more than 35 years at Linn Area Credit Union, the last five 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.”
Lorenz 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 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.”
O’Rourke 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 Lorenz, the rest of the management team, and several cross-functional teams, O’Rourke 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!”
About Linn Area Credit Union
Linn Area Credit Union was founded in 1935 when eleven Cedar Rapids teachers each put up $5 of their own money. By the end of the first year, the Cedar Rapids Teachers’ Credit Union (as it was then known) had 72 members. Today, Linn Area Credit Union has five locations and serves nearly 25,000 members in 22 counties. The credit union actively contributes to local communities and nonprofit organizations centered on children, families, and education. Linn Area Credit Union’s mission is to be partners in a successful future with our members and employees by providing caring financial services and community support. Learn more at www.linnareacu.org.