Berkshire Federal Credit Union to Merge with Greylock
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PITTSFIELD, Mass. — Greylock Federal Credit Union and Berkshire Federal Credit Union have agreed to merge the two institutions.
The Boards of Directors at both credit unions have approved the merger, and approval from the National Credit Union Administration has been granted. Retiring Berkshire Federal Manager/President Evelyn Torrey will stay on for a period of time as a consultant to assist with the transition. All Berkshire Federal staff will join the Greylock team.
“Berkshire Federal Credit Union has served the employees of Berkshire Health Systems, its affiliates, and many other community members very well since 1966," Torrey said. "The challenging financial environment of the past few years has made it difficult for Berkshire Federal to grow and offer all the products and services our members want. This merger is in the best interests of our members and Greylock is an ideal fit as a merger partner. They are committed to quality member service, they are strong supporters of our community, and they have a long history of financial stability and growth.”
Greylock President Marilyn L. Sperling said Greylock is "honored" to merge with Berkshire.
"Greylock welcomes Berkshire Federal Credit Union’s members and looks forward to serving all their banking needs while helping them meet their financial goals," she said. "With our 10 full-service branches, four located in Pittsfield, we can assure Berkshire Federal members that they will be afforded convenient service and a seamless transition.”
With the merger, Berkshire Federal Credit Union’s $12 million in assets will be assumed by Greylock. Berkshire Federal has a membership base of approximately 2,000 members.
“We will maintain open communications with Berkshire Federal’s members throughout the conversion process, as it will take both credit unions some time for systems and accounts to be fully integrated into Greylock’s,” Sperling said.
Upon completion of the conversion, Berkshire Federal members will enjoy extended hours at Greylock’s 10 full-service branches and 16 local ATM locations; access to 30,000 nationwide Co-Op Network ATMs; a telephone service center; and a host of free online and mobile services. Berkshire Federal members will also enjoy access to additional services, including mortgage loans, business banking services, investments and insurance products. Until the conversion is complete, Berkshire Federal members should continue to access existing accounts as they currently do. They can also visit any of Greylock’s branches to open new banking, insurance and investment products and services.
Tags: banking, Greylock Federal,
