Greylock holds 85th Annual Meeting virtually
PITTSFIELD, MA (October 1, 2020) — Greylock Federal Credit Union held its 85th Annual Meeting on September 22nd. Due to the pandemic, the meeting was postponed from its original date of March 24th and was hosted virtually.
Board Chair Stanley Walczyk, a retired long-time Dalton pharmacist who has been a member of the board since 2011, called the annual meeting to order. His opening remarks identified a key difference between traditional banks and credit unions. “Unlike traditional bank directors who receive hefty stipends for their governance, Greylock Board members are volunteers.” explained Walczyk. “So why do we do it? … Greylock believes that opportunity grows here and is leading the way to make sure everyone has the same chance for success.”
One of the primary agenda items was an election to fill four open seats on the board of directors. Four of Greylock’s current board members were reelected to the board, including: John Bissell, Greylock CEO and president; Gerard Burke, president and CEO of Hillcrest Educational Centers; Kelly Krok, a senior advanced HR advisor for General Dynamics Mission Systems; and Sheila LaBarbera, the executive director of the Berkshire County Retirement Board.
The meeting included a presentation on the state of the Credit Union by Chief Financial Officer Michael Stoddard. “In summary, at the close of 2019 our loan and deposit totals were at new all-time heights, our earnings amounted to the second best in our history and our capital and asset quality ratios were the best we’ve experienced in over a decade,” reported Stoddard. “What this means is that we were well prepared to weather economic storms, like the one we are navigating through right now.”
President and CEO John Bissell also spoke. “The good news is that Greylock entered the COVID crisis with the highest levels of capital in our 85 year history,” announced Bissell. “I want to reassure you that Greylock is and will continue to be financially strong. We’ll be here to continue to make sure you have the right financial tools, insurance protections and investment strategies as we continue to move forward.”
Greylock also held an organizational meeting of the board of directors on September 29th where they appointed the following slate of officers: Stanley Walczyk, chair of the board; John Law, vice chair; Peter Lopez, secretary/financial officer; and JamieEllen Moncecchi, assistant secretary.
About Greylock Federal Credit Union
Greylock Federal Credit Union’s vision is to be the face of financial equity and inclusion in the communities we serve by offering personal and business accounts; mobile, online, and phone access to your finances; free financial education for the community as a whole; unique lending products to suit the specific needs of our Members; investment services through Greylock Investment Group; and insurance products through Greylock Insurance Agency.
Greylock is wholly owned by its Members and offers full-service branches in Pittsfield, Great Barrington, Lee, Adams, North Adams, Williamstown, Lanesborough, and Lenox, Mass., and Greenport/Hudson, N.Y. Greylock has a Low-Income Designation (LID) from the National Credit Union Association (NCUA) and certification by the U.S. Treasury Department’s Community Development Financial Institutions (CDFI) Fund allowing the Credit Union to offer expanded services to low- and moderate-income families. More information is available at www.greylock.org. Insured by NCUA.
