Greylock FCU's 'Manage for the Member' Plan Yields Impressive Usage/Service Numbers

PITTSFIELD, Mass. — When General Electric Company started a series of downsizings in the mid 1980s and into the early 1990s here, Greylock Federal Credit Union faced some hard choices on how to continue surviving.

The $943 million credit union was founded by 15 GE employees under the name Pittsfield G.E. Employees Credit Union, which was chartered in 1935. Over the next five decades, the relationship grew stronger with Greylock taking pension checks through direct deposit and broadening its membership to also serve past and present employees of three GE-affiliated companies. When GE began to downsize, Greylock changed its field of membership to Berkshire County in April 1994 and changed to its current moniker. The following year, Greylock applied for and received a federal charter.