WEST POINT, Va. — After over 31 years of serving BayLands Federal Credit Union, President/CEO Margie Elliot has announced she will retire effective August 1.
Joining the then $1.5 million credit union in 1976, Elliot was only the second employee to be hired. She slowly rose through the ranks and in 1992 she became president/CEO.
During her tenure as CEO, she facilitated the credit union's name change from Chesapeake Employees' Federal Credit Union to BayLands Federal Credit Union to reflect service to additional employee groups. In 2002, Elliot championed changing BayLands from a Select Employee Group-oriented credit union to a community chartered credit union with a charter covering King William, New Kent, James City, King & Queen, Middlesex, Essex, Mathews and Gloucester counties. In 2006, she led the charge for the opening of the first BayLands branch facility in James City County. Additionally, the new branch became a Credit Union Service Center outlet.
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Under her leadership BayLands' assets grew from $28 million to $75 million, an increase of $47 million or 168%. Shares have increased from $25 million to $60 million, an increase of $35 million or 140%, and membership has doubled from 3,000 to 6,000 members, an increase of 100%.
With her encouragement and support BayLands FCU staffers are actively involved in the communities resulting in its growing reputation as a trusted community partner.
A big believer in leading by example, Elliot makes time to volunteer at local events and fundraisers for local charities as well. She is also member and Treasurer of West Point Kiwanis International and an active member of the West Point Baptist Church.
Between her husband Jimmy, three children and nine grandchildren Elliot may be busier than ever post-retirement.
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