Hello Greylock family:
In these challenging economic times, your friends, family, and co-workers may be
concerned about the safety of their bank. Please let them know that Greylock welcomes
everyone seeking a safe home for their savings. Here are three highlights you can share:
- Warm and welcoming employees: Greylock’s 330 financial professionals are
compassionate and highly skilled. They can help open a CD in any amount, starting
as low as $100, or offer a Round Up Checking account that grows your savings
every time you use your Greylock debit card.
- Highly stable business model: Because Greylock is a not-for-profit financial
cooperative, we answer only to our Members and we are not subject to the wild
swings of Wall Street speculation. Our Credit Union was established in the heart of
the Great Depression and we are at our best during challenging economic times.
- Rock solid financials: Greylock’s balance sheet is straightforward and easy to
understand. We service about $1.2 billion in well-performing loans for local
mortgages, autos and small businesses, and hold about $240 million in government
securities that represent no credit risk. We hold $165 million in capital reserves,
including $57 million in extra capital cushion above the level considered wellcapitalized.
In short, Greylock is well-prepared to ride out any economic storm, and we are open to
help anyone seeking a strong financial institution.
We would love the opportunity to ease the minds of those you love, or those that have
expressed concern; please let them know we’re here to help, always.
John L. Bissell
President & CEO
Greylock Federal Credit Union