Greylock Sees Loan Growth as Positive Sign for Economy

July 31, 2014 - Pittsfield – Greylock Federal Credit Union reports growth of 19% in consumer loans booked and a 30% increase in consumer loan dollar volume in the second quarter of 2014 over the second quarter of 2013. Greylock’s mortgage activity also grew. In the first 6 months of 2014, mortgage dollar volume was up 57% and the number of mortgages closed increased 31% over the first six months of 2013. The Credit Union sees the increase in loan activity as a hopeful sign of an improving local economy.

Greylock President Marilyn L. Sperling said, “While many people are still under-employed and many areas of the economy are still lagging, we are seeing signs that the fundamentals are changing for the better. An increase in home and auto sales, and additional quality commercial loan opportunities over the past few months are positive signs that people and businesses are feeling more confident about their financial positions.”

In light of the improving loan picture, Greylock has launched a broad-based, multi-media campaign, introducing the tagline, “It’s Grow Time.” The objective of the campaign is to highlight bright spots in the local economy and create new momentum for growth in the Berkshires. Additionally, the campaign communicates Greylock’s capabilities and willingness to support expanded economic opportunities through its family of businesses.
    
 “With the good news about an improving loan picture, we think the time is right to connect with people ready to trade up to another home, grow their business, protect their investments, or expand their retirement planning. The ‘It’s Grow Time’ campaign builds on those positive developments,” Sperling added.

“It’s Grow Time,” features a distinctive light bulb image that was introduced on billboards throughout the County in July. The imagery represents Greylock’s readiness to help make peoples’ dreams a reality when they have an idea for positive growth in their lives. The campaign will roll out in several phases throughout the rest of the year in print, radio, and web advertising.