Chessie Credit Union to acquire Kelco, reopen lobbies
Feb. 28—CUMBERLAND — The Chessie Federal Credit Union executive board has approved a merger that will see Kelco Federal Credit Union become a part of Chessie.
The merger is among several new happenings at Chessie, including the selection Jan. 8 of longtime employee Scott Kline as CEO and president. Kline replaced Richard "Doc" Daugherty, who retired earlier this year.
"The board searched for an ideal candidate to lead Chessie Federal Credit Union," said Ray Beall, board chairman. "We knew it would be critical to find the right person to replace Doc, an amazing leader who served the credit union for 33 years. We believe Scott will do a great job."
One of Kline's first announcements as CEO is the reopening of Chessie's branch lobbies on March 1. The credit union's lobbies have been closed since the onset of the coronavirus pandemic.
Beall also said Rhonda Riggleman, who has worked at Chessie for more than 30 years, has been promoted to senior vice president, filling Kline's previous role.
"Both Kline and Riggleman have been with us for a while, but they also bring in fresh ideas," Beall said.
Chessie's latest expansion began with the acquisition of Al-Gar Federal Credit Union in August 2020, which added 3,000 new members. Al-Gar had a branch on Paca Street and one on Bishop Murphy Drive in Frostburg.
The acquisition of Kelco at 321 Greene St. is expected to be completed by May 1. Beall said Kelco members will not have to do anything for the transition.
"It's an exciting opportunity," Beall said. "We continue to expand and grow and at the same time were offering a wider selection of services to the existing and new members."
Kline will become the CEO of a credit union that began in 1948 when nine railroaders deposited a total of $65 to form the Cumberland B&O Employees Federal Credit Union.
"I am honored to further our mission of providing financial services to our membership in an efficient, friendly and convenient manner," said Kline, in a news release. "I look forward to continuing to work alongside our leadership team, our board of directors and Chessie's amazing staff to provide the excellent service our members expect and deserve."
A Western Maryland native, Kline has worked in internal auditing, operations, facilities and risk management as well being market director before becoming senior vice president.
Riggleman has served over 30 years with Chessie at the executive level. Currently, she is overseeing human resources and staff at nine branches, including the corporate branch. She has completed numerous education courses and modules through accredited organizations.
"I am looking forward to my new responsibilities," she said in the news release. "I am excited to build on Chessie's foundation of financial strength and exceptional member service while being a mentor and offering support to employees."
Chessie was granted a charter by the federal government on January 21, 1948. Operating out of an office in the basement of the Queen City Station, the credit union grew to 582 members and assets of $21,668 by the end of that year.
Chessie has 32,000 members and $340 million in assets with branch locations in Cumberland, LaVale, Frostburg and Grafton and Keyser, West Virginia.
Greg Larry is a reporter at Cumberland Times-News. To reach him, call 304-639-4951, email glarry@times-news.com and follow him on Twitter.
