GREENFIELD, Mass. — Franklin First Federal Credit Union (Franklin First) of Greenfield has received member approval for its proposed merger with Greylock Federal Credit Union (Greylock) headquartered in Pittsfield. 

 

The membership vote, which was subject to the approval of the National Credit Union Administration (NCUA), occurred at Franklin First's annual meeting held on April 15.

 

Franklin First membership approval completes the requirements for the merger to move forward. With membership and regulatory approval now in place, the merger is expected to close on June 1, 2026, with a systems conversion scheduled for early 2027.

 

On Sept 19, 2025, Franklin First's Board of Directors agreed to merge with Greylock, with Greylock serving as the surviving credit union. Franklin First will merge into Greylock's charter and will continue to operate under the Franklin First brand as a division of Greylock for a period of time after the merger is completed.

 

"Franklin First is thrilled to begin our new chapter as a division of Greylock. The Board of Directors and employees of Franklin First are thankful to our membership for supporting this merger and we look forward to continuing our work for our members and in our community with the strong support from Greylock behind our team here in Franklin County," said Michelle Dwyer, President and CEO of Franklin First.

 

"My deepest thanks to the Franklin First membership for their trust, support, and confidence in this momentous next step for Franklin First and Greylock. We are especially grateful to Michelle Dwyer and the Franklin First Board of Directors for their steadfast leadership through the years. As we move forward together, we will continue to build upon this strong foundation of stewardship and will remain committed to serving the people of Franklin County," said Greylock President and CEO John L. Bissell.

 

Greylock will assume Franklin First's $88 million in assets, giving the continuing credit union approximately $1.7 billion in combined assets. Franklin First has approximately 7,400 members and will continue to operate its branch and two remote ATMs in Greenfield. Franklin First's members will enjoy full use of Greylock branches and ATMs as well as access to Greylock's extensive Business Banking services.

 

Dwyer will continue to manage the Franklin County market. Franklin First employees will continue to have roles with the continuing credit union and will operate from the current office in Greenfield.

 

Greylock currently serves 106,000 members and has full-service branches in branches in Pittsfield, Great Barrington, Lee, Adams, North Adams, Williamstown, Lanesborough, and Lenox, Mass., and Greenport/Hudson, N.Y. As part of Greylock's shared branching network, members have access to a network of 30,000 ATMs and 5,600 branches across the country.