Greylock Federal Hires 3 Experienced Bankers
PITTSFIELD, Mass. — Greylock Federal Credit Union announced the hiring of three experienced banking professionals, which includes Paul Marchetti, Dianne Supranowicz and Donna Collins.
"The addition of these experienced professionals to our team supports Greylock’s focus on strengthening our credit union for the long term," said Marilyn Sperling, president of the credit union. "Our 70,000 members are counting on us to ensure that Greylock is built to last. We are honoring that obligation by emphasizing effective risk management practices, fiscal responsibility, and thorough training for all employees."
Marchetti joined the credit union as senior vice president and chief risk officer. Marchetti brings more than 20 years of experience in risk management, compliance and credit review. He worked for Citizens Financial Group in Rhode Island for 13 years, most recently as senior vice president and head of corporate regulatory compliance oversight. He previously held the position of vice president for corporate credit review at Fleet Financial Group in Boston. Marchetti began his career as a bank examiner with the Department of the Treasury and also worked with the FDIC. He brings broad experience in all aspects of commercial and retail banking including compliance, internal controls, credit, financial analysis, credit structuring, asset management, and special asset liquidation.
Marchetti earned his bachelor of science in business administration from the University of Rhode Island and an master's of business administration from Bryant University. Marchetti and his wife are relocating from Rhode Island to the Berkshires with their two children.
Supranowicz joined Greylock Federal Union as vice president and controller and brings 17 years of experience in all aspects of accounting, finance, and financial controls. Prior to joining Greylock, she held the position of vice president operations audit manager for Berkshire Bank, and was vice president and controller at Legacy Banks.
Supranowicz holds a bachelor of science in accounting and finance from Massachusetts College of Liberal Arts and has completed extensive training through the Massachusetts School of Financial Studies at Babson College and the Center for Financial Training. She is a 2004 graduate of the Senior Leadership Institute at Villanova University and University of Cincinnati. Supranowicz is also an active community volunteer, serving as board president of the Gladys Allen Brigham Community Center and served as a workplace campaign executive with the Berkshire United Way.
Collins will join the human resources team as the training and development director. She brings 15 years of banking experience, including her most recent position as human resources officer at Berkshire Bank and a prior role as training and performance officer at Legacy Banks. In those positions she created, developed and administered training programs and supported human resource functions. Collins will support Greylock's management team in developing training programs to ensure compliance and enhance customer service. She will also oversee new employee onboarding programs.
Collins received a bachelor of arts from the University of Massachusetts in Amherst and is a member of Berkshire Business and Professional Women.
Greylock, Williams Credit Unions Merge
WILLIAMSTOWN, Mass. — Greylock Federal Credit Union and Williams College Employees Federal Credit Union have merged the two institutions effective April 1.
Both organizations and the National Credit Union Administration have approved the merger.
WCEFCU Board Chairman Peter LePage said the move is a result of the credit union's desire to give their members more benefits.
"In the current financial environment, it's been challenging to achieve the financial position and growth needed to provide the products and services our members want and need," he said in a statement. "The decision to merge is in the best interest of our Members."
The college employee credit union's $1,625,529 in assets will be assumed by Greylock. The credit union has maintained a membership base of 541 people with $1.6 million in loans and $488,000 in deposits. Approximately one-third of these members already belong to Greylock.
The college credit union opened in 1980 and has been managed by two part-time employees. Its members will now have access to all services provided by Greylock, which has more than 70,000 members.
Berkshire Bank to Celebrate Branch Opening in Pittsfield
PITTSFIELD, Mass. — Berkshire Bank will celebrate the grand opening of its newest full-service branch located at 99 North St. with a ribbon cutting ceremony and family day event.
First, the ribbon cutting ceremony will be on Jan. 16 at 11 a.m. During the event the Berkshire Bank Foundation will present two $1,500 grants – one to Goodwill Industries of the Berkshires to support the organization’s Suit YourSelf program and one to the Eleanor Sonsini Animal Shelter.
Then on Saturday, Jan. 19 from 9 a.m. until noon, the festivities continue with a family day celebration, open to the public. This event will feature special contests, giveaways and refreshments including a Treasure Chest Key Promotion offering community members a chance to win an iPad mini, cash or a gas card. Also, Mr. Twisty will be available to make balloon characters and children's author Ty Allen Jackson will read and sign copies of his books. The celebration culminates with a free showing of "The Wizard of Oz" at the Beacon Theater Sunday, Jan. 20 at 11 a.m. Seats are limited. Those interested may stop by the 99 North Street branch beginning Jan. 16 to reserve tickets and pick them up on Saturday, Jan. 19, at the family day celebration.
The downtown Pittsfield branch is the third in Berkshire County to feature Berkshire Bank's new customer centric design and enhanced teller technology. Rather than traditional teller lines, the new design allows for more personalized service, faster transactions and improved accuracy. The branch, complete with an open floor plan and AMEB Café, also includes a multi-functional community room, offering a free space for local small business and community members to hold meetings or activities. The community room includes teleconferencing capabilities, free Wi-Fi, high definition television, blue-ray DVD player, Playstation and seating for up to 30.
MountainOne Uniting Three Banks Under One Charter
NORTH ADAMS, Mass. — MountainOne Financial Partners announced that it plans to unite its banking operations under a single charter in 2013. Following the merge of Hoosac Bank and Williamstown Savings Bank operations earlier this year, the company is moving forward in bringing its South Coastal Bank unit into a common MountainOne Bank charter for all three banks.
The banks will retain their current identities and independent community focus while operating as "A Division of MountainOne Bank." The integration is subject to regulatory approval and is targeted for completion in the third quarter of 2013.
"We will preserve the heritage of three fine institutions," said Thomas S. Leavitt, president and CEO of MountainOne. "We are fulfilling a commitment to a common platform that will drive efficiency and allow us to focus our programs on outstanding customer care. South Coastal Bank CEO Robert Fraser and I have worked with our teams to assure that we will honor the history of deep community connections in the Berkshires and on the South Shore of Massachusetts. MountainOne's ten years of development has led us to this opportunity to achieve integration of products, services, and systems."
Leavitt said that he will serve as CEO of the unified bank and that Fraser will become chief operating officer.
"Our South Coastal board, management team, and staff are all excited to be part of a larger banking presence in the Commonwealth," Fraser said. "We will come together with new customer initiatives supporting a strong identity and local decision making in each of our communities.
"As I have visited North Adams, Williamstown, and Pittsfield over the past year, I have been pleased with the strength of the MountainOne name and the strong ties that Hoosac Bank and Williamstown Savings Bank have forged for well more than a century. I look forward to working with Tom and our banking teams in eastern and western Massachusetts to advance all of MountainOne."
"We are decidedly leaning into the 21st Century with our MountainOne Financial Center in Pittsfield," Leavitt said. "This new facility in an important market brings the best of our banking, insurance, and investment advisory services together in a compelling way. Our communities can expect to see this model advanced as we bring our three banking brands into alignment and innovate with both our physical and digital delivery channels."
The action to consolidate Hoosac Bank, Williamstown Savings Bank (a division of Hoosac Bank) and South Coastal Bank under one bank charter has been approved by the board of directors of each of the banks and by MountainOne Financial Partners. Formal applications will be filed with the Massachusetts Division of Banks and the Federal Deposit Insurance Corporation.
Greylock Federal Moving Into Former ToyWorks Space
PITTSFIELD, Mass. — Greylock Federal Credit Union has signed a long-term lease for the former ToyWorks building in the Allendale Shopping Center.
Officials say the 18,000-square-foot space will enable Greylock to bring together credit union operations functions and provide convenient access for Greylock Insurance Agency customers.
Renovations are under way and credit union officials expect to move several teams to the location later this year.
"This location solves our long-standing need to consolidate numerous operations functions," said Greylock President Marilyn Sperling. "We have looked at more than a dozen locations and were pleased to obtain lease terms in Allendale that will actually decrease our real estate expenses while accommodating the long-term growth of the credit union."
The company's doubled its staff and tripled its assets since moving in 1998 into its 20,000 square-foot headquarters, a location expected to accommodate 20 years of growth. Sperling said the building was completely filled by 2004.
The end space on the L-shaped shopping center has been leased sporadically since the closure of KB ToyWorks and the company's liquidation several years ago. The KB headquarters on West Street next to the credit union was recently purchased by Laurin Publishing.
As the credit union has grown over the last 15 years, operational personnel have been scattered in three locations throughout Pittsfield, said Sperling. "When the moves are complete, we will have a larger footprint with greater efficiency and lower costs."
The Allendale site will also become a new central sales and processing site for Greylock Insurance Agency, providing a more convenient location for members in Cheshire, Dalton and other towns.
In addition to the insurance presence, Greylock plans to move the following functions and departments to the Allendale space, representing about 75 employees in total:
The credit union as 245 employees and $1.2 billion in assets.
- Deposit & Loan Operations
- Call Center
- Electronic Services
- Learning Center
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