Greylock Federal Reports Strong 2024 Financial Results, Announces Board Election

08:10AM / Sunday, April 06, 2025Print Story | Email Story

PITTSFIELD, Mass.—Greylock Federal Credit Union reported its 2024 financial results, including a net income of $4.7 million and assets exceeding $1.6 billion, at its annual meeting on March 25, 2025.

According to Chief Financial Officer Michael A. King, the credit union's regulatory capital ratio increased from 12.14 percent to 12.21 percent.

Loan growth for the year was reported at $16 million, or 1.3 percent, bringing total loan balances to over $1.3 billion. Deposit balances decreased by 0.1 percent, ending the year at $1.4 billion.

"As we look ahead into 2025, our capital, liquidity, and loan quality are at very strong levels. Our balance sheet is well-positioned to manage various potential interest rate environments and economic scenarios," King said. "We continue to actively manage expenses and regularly seek opportunities to provide excellent member services for both the present and long-term."

President and Chief Executive Officer John L. Bissell acknowledged the year's achievements

"I am grateful for the hard work of Greylock's 300 financial professionals in achieving balance and forward momentum throughout 2024. I am deeply grateful for the way in which our employees, our Board and our Membership are unified around a shared purpose of strengthening our community," he said. "You should all know that your Board works extremely hard to provide strong governance; and they give us all the confidence to keep forging ahead."

Bissell also addressed the credit union's stability.

"Just like we did through the pandemic and through wars, and through recessions. We will keep moving ahead, in balance, remaining true to our principles and our values," he said. "Your loyalty to this credit union makes all the difference. Let your friends and family members know, Greylock is the safe, local place to put their money, a place with steady financial performance, a rock-solid balance sheet and most importantly, kind caring people delivering great service."

During the meeting, four directors were elected to the Board of Directors: Krystle Blake (three-year term), Shelby Williamson (three-year term), Brett Random (three-year term), and Tyrone Allan Jackson (one-year term).

Board Chairman Peter T. Lopez stated, "This year, we were fortunate enough to have five incredible people campaigning for four open seats on our volunteer board. We appreciate their willingness to serve and contribute to the well-being of Greylock."

The Greylock 2024 Annual Report is available online at: https://www.greylock.org/content/docs/Annual-Report.pdf

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Pittsfield Housing Project Adds 37 Supportive Units and Collective Hope

By Brittany PolitoiBerkshires Staff
05:01PM / Monday, December 29, 2025

PITTSFIELD, Mass.— A new chapter in local efforts to combat housing insecurity officially began as community leaders and residents gathered at The First on to celebrate a major expansion of supportive housing in the city.

The ribbon was cut on Thursday Dec. 19, on nearly 40 supportive permanent housing units; nine at The First, located within the Zion Lutheran Church, and 28 on West Housatonic Street. The Housing Resource Center, funded by Pittsfield's American Rescue Plan Act dollars, hosted a celebration for a project that is named for its rarity: The First.

"What got us here today is the power of community working in partnership and with a shared purpose," Hearthway CEO Eileen Peltier said.

In addition to the 28 studio units at 111 West Housatonic Street and nine units in the rear of the church building, the Housing Resource Center will be open seven days a week with two lounges, a classroom, a laundry room, a bathroom, and lockers.

Erin Forbush, ServiceNet's director of shelter and housing, challenged attendees to transform the space in the basement of Zion Lutheran Church into a community center. It is planned to operate from 8:30 a.m. to 4:30 p.m. year-round.

"I get calls from folks that want to help out, and our shelters just aren't the right spaces to be able to do that. The First will be that space that we can all come together and work for the betterment of our community," Forbush said.

"…I am a true believer that things evolve, and things here will evolve with the people that are utilizing it."

Earlier that day, Executive Office of Housing and Livable Communities Secretary Ed Augustus joined Lieutenant Governor Kim Driscoll and her team in Housatonic to announce $33.5 million in federal Community Development Block Grant funding, $5.45 million to Berkshire County.

He said it was ambitious to take on these two projects at once, but it will move the needle. The EOHLC contributed more than $7.8 million in subsidies and $3.4 million in low-income housing tax credit equity for the West Housatonic Street build, and $1.6 million in ARPA funds for the First Street apartments.

"We're trying to get people out of shelter and off the streets, but we know there are a lot of people who are couch surfing, who are living in their cars, who are one paycheck away from being homeless themselves," Augustus said.

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