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PW Campbell Rendering of Greylock Federal Credit’s future branch in Hudson, NY.
Pittsfield-based Greylock Federal Credit Union plans to expand into New York state. A new full-service branch in Hudson, about 40 miles from Pittsfield, is a multimillion-dollar project, according to a statement from Greylock, and will include three drive-up teller windows, an ATM, multiple teller stations, private member service offices, a waiting area with coffee bar and a children’s space.
Greylock’s field of membership includes New York state’s Columbia County.
“More than 1,600 folks in Columbia County have already joined Greylock, entrusting us with nearly $30 million in loan and deposit relationships,” John Bissell, Greylock’s president, said in a statement. “The opening of our new branch signals our commitment to investing even more deeply in the Hudson community and we are grateful for the enthusiasm and support we have been shown. We are also thrilled to have the first three members of our branch team in place. They know the Hudson area well and will be key to helping us meet local needs.”
The new branch will include space for personal financial education, coaching and community meetings. Bissell said in the statement that Greylock focuses on financial inclusion as a key component in achieving greater equity across communities.
“Greylock’s branch professionals will act as financial coaches to help address the needs of under-served and under-resourced members of the community by providing free financial counseling, educational opportunities, and specialized financial products designed to build credit and grow family assets,” the statement said.
Bissell said Greylock’s leaders have already engaged in multiple partnership discussions with stakeholders and community leaders.
“We understand that Greylock has a role to play in elevating financial literacy, strengthening the Columbia County workforce and promoting home ownership,” Bissell said. “We are regional leaders in mortgage and auto lending and small business banking. We come with expertise in serving rural communities, small cities, and diverse groups and look forward to becoming an even more active and engaged partner in the community.”
The planning, research, design and construction of the new branch has been overseen by PW Campbell of Pittsburgh, Pennsylvania. The construction is scheduled to take six months to complete. Due to delays from COVID-19, Greylock said it will set an official opening date at a later time.
Greylock has $1.3 billion in total assets and 88,000 members. It has branches in Pittsfield, Great Barrington, Lee, Adams, North Adams, Williamstown, Lanesborough and Lenox. The credit union also has a Low Income Designation from the NCUA and certification by the U.S. Treasury Department’s Community Development Financial Institutions Fund, allowing it to provide expanded services to low and moderate income families.
In addition to Columbia County, the field of membership includes anyone who lives, works, attends school, worships or regularly conducts business in Berkshire County, the towns of Westfield, Southwick, Granville, Montgomery and Russell, Massachusetts, and Bennington County, Vermont.
