PITTSFIELD, Mass. — Adams Community Bank has donated $100,000 to the COVID-19 Relief Fund that was recently established to help Berkshire Health Systems battle the coronavirus pandemic.
The major gift be used to help defray the costs of providing personal protective equipment for hospital caregivers and staff on the front lines of the health crisis. In addition to this gift, Adams Community Bank has also committed to funding one month of emergency child care for BHS employees, totaling up to $25,000, through an arrangement with the Berkshire Family YMCA.
The coronavirus is placing unprecedented financial pressures on health-care systems nationwide, including Berkshire Health Systems. Like all hospitals in the state, Berkshire Medical Center has been directed by the governor to halt all elective procedures.
"This measure has effectively paused all outpatient care, which typically provides at least 50 percent of BMC's annual revenue," explained David Phelps, president and CEO of Berkshire Heath Systems. "At the same time, expenses related to patient care and emergency operations during the pandemic have risen dramatically. Support from donors in any amount is critically important to helping us support our caregivers and all our staff in responding to the needs of our community."
Adams Community Bank is an independent, community savings bank headquartered in Adams. Incorporated in 1869, it has branch locations in Cheshire, Lanesborough, Lee, Lenox, North Adams and Williamstown.
On March 18, the bank dedicated an initial pool of $500,000 to assist those in the Berkshires affected by COVID-19, including another $100,000 for the COVID-19 fund administered by the Berkshire United Way/Berkshire Taconic Community Foundation and their relief efforts throughout the county.
"The foundation of our bank is community," said Charles P. O'Brien, president and CEO of Adams Community Bank. "When we saw that the coronavirus had quickly taken hold here in the Berkshires, we knew we had to act. By supporting Berkshire Medical Center and Berkshire Health Systems, we will be helping to provide critical support for our health care providers, nurses, and support staff."
Berkshire Medical Center, an affiliate of Berkshire Health Systems, is a 298-bed community teaching hospital serving the residents of Berkshire County and the neighboring areas. As the region's leading health-care provider, it also is the sole medical facility in the Berkshires treating COVID-19 patients who require hospitalization.
To support Berkshire Health Systems in its fight against the novel coronavirus (COVID-19), visit the donation page here.
"We are so grateful for our friends at Adams Community Bank. As BHS confronts the rising costs of battling the wide-scale spread of COVID-19, this support from ACB provides a much-needed boost to our efforts," Phelps said. "The generosity of Adams Community Bank clearly demonstrates that compassion and kindness are alive and well in the Berkshires."
O'Brien said the bank's support is a "multi-layered approach" to assisting the communities its serves, its customers and its employees. "Over the years we have successfully navigated through many local and national events and business cycles and again stand ready to do our part."
Smaller but no less important relief efforts include buying lunch at local restaurants for employees to the tune of $7,877
at 30 local restaurants between March 19 and 31, began buying gifts cards from local restaurants for 20 groups of our first-responders spread across each town where branch is located. As of March 31, $3,500 in gift cards at 11 local restaurants have been sent to first-responders including Northern Berkshire EMS and local police departments.
The bank also has created an ACB Consumer Assistance Loan Fund of $250,000 to lend to individuals and families who are existing customers with a hardship because of COVID-19 with low interest and flexible repayment terms for loans up to $5,000 (applications here or call 413-743-0001
Other customer help includes refunds on certain fees, increased withdrawal limits, waiving of penalties on CD withdrawal, temporary deferral of mortgage payments, and the suspension of all foreclosures and evictions.
Adams Community Bank has created the ACB Small Business Assistance Loan Fund of $500,000 to lend to small businesses who are existing customers in need of working capital to help fund their operations. Call 413-743-0001 to get started.
Staff are also receiving full pay during this time regardless of hours or where they are working from.
"This is an amazing community, and we hope that our gifts will inspire many others to reach out with support for our hospital during this difficult time," O'Brien said.
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Greylock and Credit Union of the Berkshires Agree to Merger
PITTSFIELD, Mass. – Greylock Federal Credit Union and Credit Union of the Berkshires (CUB), both of Pittsfield, have reached a definitive merger agreement subject to the approval of the CUB membership and regulatory agencies.
"We are pleased that Greylock and Credit Union of the Berkshires have reached this merger agreement," said Greylock President and CEO John L. Bissell. "We know that the credit union difference remains strong in Berkshire County. We look forward to completing the merger and
combining the resources of CUB and Greylock to help the community thrive."
With final approval of the merger, Greylock will assume CUB's nearly $23 million in assets.
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