ROSELLE SAVINGS BANK’S JILL SCHAFHAUSER RETIRES; DETLEF FELSCHOW ASSUMES ROLE

Jill Schafhauser spent her entire 46-year banking career with Roselle Savings Bank,
including 16 years as CEO and bank president. She followed in the banking footsteps of
her mother, Mrs. Frances Hunter, who preceded her as an officer of the bank.
During her time at the helm, the bank has grown and evolved from an institution that
offered traditional banking services to one that is now firmly entrenched in the world of
high-tech banking products, while still remaining true to its community roots. Roselle
Savings Bank today has locations in Roselle, Cranford, Bernardsville and High Bridge.
On her lengthy career, Schafhauser noted, “I know this sounds like a cliché, but it
seems like only yesterday when, as a child, I would accompany Mom to the bank for
various functions. Time really flies by, but I can honestly say that I have enjoyed every
minute of my career here at Roselle Savings Bank. I’m going to miss our employees,
our customers and our business associates immensely.” Schafhauser will remain active
with the bank as a member of its board of directors.
She is currently a director on the NJBankers NJBA Service Corp. Board of Directors and
formerly served on the NJBankers (NJ League of Community Bankers) Board of
Governors, Executive Committee and Operations & Technology Committee.
She also served as trustee of the New Jersey Community Bankers Education
Foundation.
In addition to her dedication to New Jersey community banking organizations,
Schafhauser is well known for her support of local communities, with involvement in
such groups as
Inroads to Opportunities (formerly known as
the Occupational Center of
Union County), HomeSharing (where she was honored in 2013 with the Shuey Horowitz
Humanitarian Award), EverFi, Inc.’s Financial Literacy Program at Abraham Clark High
School in Roselle, in addition to annual support of local chapters of The American
Cancer Society and the United Way.
Mr. Fredericks commented, “We are sad to see Jill go, but know that she will not be far
away as she continues to serve on the bank’s board of directors. When you think about
her 46-year career, Jill exemplifies what dedication, loyalty and service to the bank,
customers and community is all about. She also truly cared about each and every one
of her employees.”
He added, “With Detlef (“D”) Felschow as our new President and CEO, we are
extremely confident that our bank and our customers remain in very capable hands. “D”
is an experienced and thoroughly knowledgeable banking executive. His
strategic vision
and solid banking expertise will reinforce our mission, further strengthen our community
competitive edge, and help us to remain poised for growth well into the future.
Felschow has been with Roselle Savings Bank for two years. Prior to that he served as
Senior Vice President / Chief Operating Officer of Hilltop Community Bank, and had
previously served as Senior Vice President, Retail Banking at The Ramapo Bank.
Mr. Felschow graduated from the University of Delaware Stonier Graduate School of
Banking. In addition, he
holds a Bachelor of Science degree in Aeronautical Science
from Embry Riddle Aeronautical University.
Roselle Savings Bank originally opened its doors in May of 1889 as the Roselle
Building and Loan Association, serving what is now the Borough of Roselle and the
surrounding communities. The bank specializes in banking products and services for
individuals and families. Through the years, Roselle Savings Bank has grown to serve
residents not only in Union County, but also in Hunterdon, Somerset, Essex, Middlesex,
Morris and Warren counties. Branches are located in Roselle, Cranford, High Bridge
and Bernardsville. The bank is an Equal Opportunity Lender and a member of the FDIC.
The main office may be reached at 908-245-1885 or by visiting