Greylock Federal Reports Strong 2014

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PITTSFIELD, Mass. — Greylock Federal Credit Union reported strong performance in 2014.

In its 79th year of operation, Greylock posted net income of $5.37 million and total assets of $1.075 billion. The credit union’s regulatory net worth – a key measure of financial strength – ended the year at 9.4 percent, up from 8.76 percent in 2013, improving upon Greylock’s “well-capitalized” rating as determined by the National Credit Union Administration.

“In 2014, we saw the challenges of the ‘Great Recession,’ appear to recede," Greylock President Marilyn L. Sperling said. "We began to see home and auto sales increase, and additional quality commercial loan opportunities – hopeful signs that families and business owners were feeling more confident. The improving economy allows Greylock to continue its focus on growing capital to withstand any future downturns.”

For 2014 overall, Greylock saw new funded mortgages increase 28 percent over 2013 and funded consumer loans increase by 15 percent over 2013. Greylock Insurance Agency (GIA) and Greylock Investment Group (GIG) posted their best years ever.

 At the end of 2014 Greylock posted the following results:

• 70,961 Member/Owners

• $1.075 billion in assets

• $837 million in total loans



• $960 million in total deposits

• $5.4 million in total net earnings

 Other 2014 highlights included:

- Greylock received a Low Income Designation (LID) from the NCUA based on analysis which showed that more than half of Greylock's members live in areas designated as low income by federal standards. Receiving LID status was the precursor to Greylock’s recent certification by the U.S. Treasury Department’s Community Development Financial Institutions (CDFI) Fund. The certification allows Greylock to expand services addressing the needs of low to moderate income families.

- Core account relationships expanded, with more than 2200 members deepening their existing relationships by making Greylock their primary banking institution. “The best indicator that we have achieved customer satisfaction comes when a family brings their active checking relationship to Greylock,” Sperling said. “It is gratifying that our number of active checking account holders has doubled in the past five years.”

- Additionally, Greylock introduced new electronic banking services in 2014, as part of the Credit Union’s Anywhere Banking online banking services. Remote Deposit Capture (RDC) and uOpen online account opening, support continued member adoption of Internet and mobile services.

Noting the important role Greylock played as a community leader in 2014, Sperling said, “Our 263 employees continually step up with generous donations for the Berkshire United Way. In 2014 we set a new record, raising over $131,000. Our ongoing donations for a range of worthy causes and initiatives such as Elder Services and local food pantries as well as our culture of volunteerism make a difference every day to our Berkshire neighbors.”

 

 


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Dalton Man Accused of Kidnapping, Shooting Pittsfield Man

By Brittany PolitoiBerkshires Staff

PITTSFIELD, Mass. — A Dalton man was arrested on Thursday evening after allegedly kidnapping and shooting another man.

Nicholas Lighten, 35, was arraigned in Central Berkshire District Court on Friday on multiple charges including kidnapping with a firearm and armed assault with intent to murder. He was booked in Dalton around 11:45 p.m. the previous night.

There was heavy police presence Thursday night in the area of Lighten's East Housatonic Street home before his arrest.

Shortly before 7 p.m., Dalton dispatch received a call from the Pittsfield Police Department requesting that an officer respond to Berkshire Medical Center. Adrian Mclaughlin of Pittsfield claimed that he was shot in the leg by Lighten after an altercation at the defendants home. Mclaughlin drove himself to the hospital and was treated and released with non-life-threatening injuries. 

"We were told that Lighten told Adrian to go down to his basement, where he told Adrian to get down on his knees and pulled out a chain," the police report reads.

"We were told that throughout the struggle with Lighten, Adrian recalls three gunshots."

Dalton PD was advised that Pittsfield had swabbed Mclaughlin for DNA because he reported biting Lighten. A bite mark was later found on Lighten's shoulder. 

Later that night, the victim reportedly was "certain, very certain" that Lighten was his assailant when shown a photo array at the hospital.

According to Dalton Police, an officer was stationed near Lighten's house in an unmarked vehicle and instructed to call over the radio if he left the residence. The Berkshire County Special Response Team was also contacted.

Lighten was under surveillance at his home from about 7:50 p.m. to about 8:40 p.m. when he left the property in a vehicle with Massachusetts plates. Another officer initiated a high-risk motor vehicle stop with the sergeant and response team just past Mill Street on West Housatonic Street, police said, and traffic was stopped on both sides of the road.

Lighten and a passenger were removed from the vehicle and detained. Police reported finding items including a brass knuckle knife, three shell casings wrapped in a rubber glove, and a pair of rubber gloves on him.

The response team entered Lighten's home at 43 East Housatonic before 9:30 p.m. for a protective sweep and cleared the residence before 9:50 p.m., police said. The residence was secured for crime scene investigators.

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