Greylock FCU Recognized for Helping Community Through Pandemic
December 6, 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 (Greylock) has been awarded an Associated Industries of Massachusetts’ (AIM) Next Century Award for 2021. The Award honors employers, community organizations and individuals who have made unique contributions to the Massachusetts economy and the well-being of the people who live there.
“As a community cooperative, we know that to achieve community success, you must allow each individual to thrive. Whether it be by helping a single mom to improve her credit score through financial coaching and eventually buy her family a home; or helping a business pay its employees through the Paycheck Protection Program, Greylock understands the value of community,” said Stanley B. Walczyk, Chair of Greylock’s Board of Directors. “We are grateful for AIM’s recognition of the significant difference our employees make everyday in the lives of our Members.”
According to AIM’s President/CEO John R. Regan, the Next Century Award was created to honor the accomplishments of companies and individuals creating a new era of economic opportunity for the people of Massachusetts. “These remarkable people and institutions inspire the rest of us by exemplifying the intelligence, hard work and dedication to success, that has built our commonwealth. [Greylock] enjoys the added distinction of having used resilience and creativity to weather the pandemic and help Massachusetts through a uniquely difficult period,” said Regan
Motivated by a vision “to enable our community to thrive,” the 94,600-Member financial institution rolled up its sleeves during the recent crisis to help the westernmost county in Massachusetts deal with the financial fallout of the pandemic.
Greylock’s list of contributions is long and includes:
• waiving hundreds of thousands of dollars in penalties and fees,
• pausing payments for more than $200 million in loans,
• supporting first responders with $2.5 million in emergency loans,
• providing more than $40 million dollars in forgivable Paycheck Protection Program Loans; saving more than 5,000 local jobs, from Hudson, New York to Pittsfield, Williamstown to Great Barrington, Massachusetts throughout 2020 and into early 2021,
• fielding more than 145,600 calls, even as staff transitioned to work from home,
• donating $762,000 to community organizations during 2020; Greylock is recognized as a Pinnacle Company by the Berkshire United Way.
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, Vermont; or Columbia County, New York. Greylock Federal is wholly owned by its more than 94,600 Members and offers full-service branches in Pittsfield, Great Barrington, Lee, Adams, North Adams, Williamstown, Lanesborough, and Lenox, Massachusetts and Greenport/Hudson, New York. Greylock has a Low-Income Designation (LID) from the National Credit Union Administration (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 families of low and moderate incomes. More information is available at www.greylock.org.