Greylock Federal Reports Strong 2024 Financial Results, Announces Board Election

Print 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

Tags: Greylock Federal,   

If you would like to contribute information on this article, contact us at info@iberkshires.com.

Pittsfield Schools Finalizing Bus Routes for Fall

By Brittany PolitoiBerkshires Staff

PITTSFIELD, Mass. — The district currently has enough bus drivers for the upcoming school year, and families will know their child's transportation schedule in mid-August. 

With about five weeks left of summer vacation, Superintendent Latifah Phillips updated the School Committee on transportation for the 2026-2027 year with middle school restructuring and the closure of Morningside Community School. 

Busing is a question that has continuously been raised as the Pittsfield Public Schools approach an academic year with a couple of big changes. 

"The reason that the bus stops and times aren't shared until very close to the school year is that routes change based on every student that moves into the district and requires a bus, and so it's important for us to wait as late as possible to ensure that families are getting the most accurate timetable," Phillips explained during a meeting held at Reid Middle School on Thursday. 

"We are also continuing to explore after-school transportation for the four schools receiving Morningside, and a survey was given to students who attend the Summer Morningside 21st Century Program to assess transportation needs."

That survey found that transportation does not appear to be a big impediment to students participating in the after-school program, but funding is set aside to ensure students are able to access the same services as they were the previous year. 

The district is still planning to offer after-school programming for Morningside transfer students, and is working with the four receiving elementary schools (Allendale, Egremont, Williams, Capeless) to plan a practice bus ride. 

Phillips explained that, for someone who has never ridden a bus before, and especially a school bus, they want to ensure that students are poised for success and understand the rules and expectations before the first ride. Students will be able to get on the bus, ride the route, arrive at school, have a quick break, maybe play on the playground and have a popsicle, then return home on the bus. 

View Full Story

More Pittsfield Stories