Greylock Federal CU Raises Minimum Pay to $16.50 Per Hour
May 24, 2021
Greylock Federal Credit Union is an independent company, wholly owned by its members. Greylock is a federally-chartered credit union, organized under strict regulatory laws that are monitored and enforced by the National Credit Union Administration, an agency of the U.S. Government. All accounts are insured by the National Credit Union Share Insurance Fund (NCUSIF).
PITTSFIELD – Greylock Federal Credit Union and Greylock Insurance Agency have established $16.50 per hour as their corporate minimum wage. Additionally, they have adjusted the salaries of all employees making less than $20.00 per hour.
“Our vision is to enable our community to thrive and that means starting with our own team,” said Greylock’s President and CEO John L. Bissell. “As a major employer in the area, we try to lead by example and listen to our employees’ needs. We have designed a pay and benefits package that reflects our lived culture.”
Greylock had previously set their base at $15.00 in 2016, years ahead of Massachusetts’ statewide target date of 2023. “This past year has given Greylock an opportunity to recognize the need to find more effective solutions to support our staff,” said Bissell. “We knew it was important to lead with compassion as we help our staff meet the new challenges of life after the pandemic.”
Greylock’s human resources team has developed a distinctive, family-friendly benefits package with unique solutions designed specifically for Greylock staff. “We are one of the few employers to still offer a 401K with employer match and a pension plan,” said Bissell. “We also have a program that lets new parents bring their babies to work and we provide a stipend to help cover childcare costs. We have a tuition reimbursement program, a student loan assistance benefit and provide ongoing professional development opportunities. We want to find solutions that go beyond just a paycheck. We want to help our employees with the tools they need to build a life and a future inside and outside of the workplace.”
About Greylock
Greylock membership is open to anyone who lives, works, attends school, worships or regularly conducts business in Berkshire County, the towns of Westfield, Southwick, Granville, Montgomery, and Russell, Massachusetts, Bennington County, VT or Columbia County, NY. Greylock Federal is wholly owned by its more than 92,000 members and offers full-service branches in Pittsfield, Great Barrington, Lee, Adams, North Adams, Williamstown, Lanesborough, and Lenox, Massachusetts and Greenport, New York. Greylock has a Low Income Designation (LID) from the NCUA and certification by the U.S. Treasury Department’s Community Development Financial Institutions (CDFI) Fund allowing the Credit Union to offer expanded services to low and moderate income families. More information is available at www.greylock.org.
Greylock’s family of businesses includes:
Greylock Insurance Agency, with six locations in Berkshire County and two in Westfield, MA, handles commercial and personal lines including auto, homeowner’s, life, disability, long-term care insurance, all forms of bonding, and 24/7 claims service.
Greylock Investment Group offers access to a full array of services including financial and retirement planning, investment management, mutual funds, annuities and portfolio management.
Greylock Technology Group provides programming and IT consulting for financial institutions.