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Greylock Federal Credit Union Top SBA Lender - January 15, 2008
Pittsfield – In addition, the Small Business Administration (SBA) has recognized Greylock Federal Credit Union’s achievement as the tenth largest SBA financial lender in the Commonwealth out of 119 financial institutions, the top SBA credit union lender in the state and the tenth most active credit union in the entire country the fiscal year ending September 30, 2007.
According to the SBA, during the fiscal year, Greylock approved 37 SBA-supported loans, totaling $3,131,700 which ranks the credit union as among the most active lenders in both the state and the nation. Greylock Senior Vice President of Business Lending, Don Kuczarski attributes this success to Greylock’s partnership with the SBA and the concentration of small business owners within the credit union’s field of membership. Research conducted by the credit union indicates that nearly 20 percent of its 60,000 members own or operate a small business. Kuczarski said, “Having been granted the “Preferred Lender” designation, Greylock can approve qualifying SBA loans without government approval. It allows us greater flexibility and quicker turnaround in closing these deals.”
Based on Greylock Federal’s track record with the SBA, Greylock has consistently been cited as a top business lender in Western Massachusetts. Greylock President Angelo C. Stracuzzi said, “The SBA is crucial to economic development in the Berkshires. They work hand-in-hand with our lending team at Greylock to insure loans that may not otherwise be financed. This is a good partnership.”
Greylock Federal offers a full array of business banking products including: business checking and savings accounts, business credit cards, online banking, business insurance, payroll services and a full range of commercial loan products to meet any business need.
Greylock Federal Credit Union was recently rated the top credit union in the United States for total value returned to Members/Owners according to Callahan & Associates, a national credit union research and consulting firm. Greylock Membership is open to anyone who lives, works, attends school, worships or regularly conducts business in Berkshire County. Greylock Federal is wholly owned by its more than 60,000 members and Greylock offers full-service branches in Pittsfield, Great Barrington, Lee, Adams, North Adams, and Williamstown. More information is available at www.greylock.org. |
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