Greylock Federal Credit Union is investing $2.2 million to purchase and renovate 43 Park Street in Lee to support its growing Membership. Greylock’s approach to financial equity is drawing record numbers of new Members and the Credit Union needs a more roomy, welcoming and functional space. Membership in the Lee branch has nearly doubled over the last decade.
“This is an investment in our Lee Members. This will be a place for building community and strengthening local opportunities,” said Greylock President, CEO John L. Bissell. “Our model of empowerment, inclusion and equity is changing the face of financial services by providing everyone with access to the financial education and resources they need to thrive.”
In 2022, Greylock worked with more home buyers than any other bank or credit union in western Massachusetts, providing 31% of the mortgages issued in the region. Similarly, Greylock helped over 1/3 of all local car buyers who took out a loan to pay for their vehicle. According to Bissell, this is a direct result of Greylock’s commitment to partner with its Members and give them the support and tools they need to succeed. Greylock’s team of 31 Certified Credit Union Financial Counselors provided over 1,200 free coaching sessions in 2022. “Financial empowerment through education is a vital part of what sets Greylock apart,” said Bissell.
The soon to be remodeled branch is expected to open in late 2023 and will be fully accessible and include multiple teller stations, ample parking, drive-up and video tellers, private offices as well as a community space to host Greylock’s signature education, coaching, and community activities.