Greylock Federal Reports Strong 2024 Financial Results, Announces Board Election

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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: Should Park Square Be an Historic District?

By Brittany PolitoiBerkshires Staff

PITTSFIELD, Mass. — The committee drafting a proposed local historic district around Park Square wants to generate interest and participation in the process. 

Members launched the charge during meetings in August and September. A survey and public hearing are planned to gather feedback early on. 

City Planner Kevin Rayner explained they are not just doing this out of a love for historic buildings, but for the timeless sense of place you get when you step into Park Square, which was laid out over 200 years ago and hosted the first-ever agricultural fair in 1810. 

"I think that the main thing that we need to kind of park on is that this is the heart of our community, and it really sets the stage for the sense of place in Pittsfield, and any change to that should have some review and some consensus from folks who have a passion for protecting the history and that character of Pittsfield," he said to the new Local Historic District Study Committee last week. 

"And there's that private property versus historic resource thing, but I’d say that a lot of these buildings on the square belong to the soul of Pittsfield here, and deserve to be protected, and I don't think that the layer of regulation that we're throwing down here is going to be unreasonable or a real boundary." 

In March, the City Council voted to amend the City Code, Chapter 2, to establish the study committee.

Pittsfield has more than 20 locations on the National Register of Historic Places, including the Park Square Historical District, but the designation just allows communities to apply for federal tax credits and doesn't impose restrictions on buildings. The central area was laid out a few decades after Pittsfield was given a town charter in 1761.

A district can be one building, several buildings, or an area. Historic restrictions only apply to the exterior of buildings; the committee has authority to say a building in the district cannot be demolished. 

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