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PITTSFIELD â Greylock Federal Credit Union and Credit Union of the Berkshires, two of Berkshire Countyâs oldest such financial establishments, have reached an agreement to merge, their CEOs said Monday.
The merger is subject to the approval of the Credit Union of the Berkshiresâ 2,000 members, and three regulatory agencies: the National Credit Union Administration, the Massachusetts Division of Banks and the Massachusetts Credit Union Share Insurance Corp. The NCUA is the national regulatory agency for credit unions.
The merger is expected to be completed in late fall.
Pittsfield-based Greylock, the countyâs largest credit union, has $1.4 billion in assets and is wholly owned by its 90,406 members. Credit Union of the Berkshires, which would become part of Greylock after the merger is finalized, has nearly $23 million in assets and is the second-largest credit union in Pittsfield.
Greylock FCU And Credit Union Of The Berkshires To Merge
Slater, on Tuesday, caught up with Communications Director, Rhonda Serre. Listen below.
Greylock Federal Credit Union and Credit Union of the Berkshires (CUB), both of Pittsfield, Massachusetts, have reached a definitive merger agreement subject to the approval of the CUB membership and regulatory agencies.
“We are pleased that Greylock and Credit Union of the Berkshires have reached this merger agreement,” said Greylock President and CEO John L. Bissell. “We know that the credit union difference remains strong in Berkshire County. We look forward to completing the merger and combining the resources of CUB and Greylock to help the community thrive.”
We are pleased that Greylock and Credit Union of the Berkshires have reached this merger agreement, said Greylock President and CEO John L. Bissell. We know that the credit union difference remains strong in Berkshire County. We look forward to completing the merger and combining the resources of CUB and Greylock to help the community thrive. Credit Union of the Berkshires has taken great pride in serving our community and our membership for over 80 years. We are confident our members will receive the highest quality of service they are accustomed to and deserve at Greylock. Greylock s mission and core values align perfectly with Credit Union of the Berkshires and that s why we have chosen Greylock as our merger partner, said CUB CEO Melissa Morin.