Greylock Federal Credit Union and Franklin First Federal Credit Union agree to merger

From Greylock Federal Credit Union:

Berkshire and Franklin counties — The boards of directors of Franklin First Federal Credit Union (Franklin First), headquartered in Greenfield, Mass., and Greylock Federal Credit Union (Greylock), headquartered in Pittsfield, Mass., have reached a definitive merger agreement subject to the approval of the National Credit Union Administration (NCUA) and Franklin First’s membership.

“Franklin First Federal Credit Union has taken great pride in serving our community and our membership for nearly 70 years. We feel now is the time, when Franklin First is at its strongest, to make the strategic decision to merge with Greylock. This will allow us to strengthen our membership, community, and staff through a thoughtful and effective partnership. I am confident our members will receive the highest quality of service they are accustomed to and deserve from Greylock. Greylock’s mission and core values align perfectly with Franklin First’s, and that is why we have chosen Greylock as our merger partner,” said Franklin Firsst President and CEO Michelle Dwyer.

“We are pleased that Greylock and Franklin First have reached this merger agreement,” said Greylock President and CEO John L. Bissell. “We know that Franklin First shares our deep commitment to empowering our members and all people in our communities, especially those who don’t fit well into traditional banking profiles. We look forward to completing the merger and empowering the team at Franklin First to continue to meet the financial needs of Franklin County for the long term.”

Dwyer will continue to manage the Franklin County market. There will be no job loss as all of Franklin First’s employees will have roles with the continuing credit union. Franklin First will merge into Greylock’s charter and will operate as a division of Greylock under the Franklin First brand for a period of time after the merger is completed.

With final approval of the merger, Greylock will assume Franklin First’s $84 million in assets, giving the continuing credit union approximately $1.7 billion in combined assets. Franklin First has approximately 7,400 members and will continue to operate its branch and two remote ATMs in Greenfield, Mass. Franklin First’s members will enjoy full use of Greylock branches and ATMs as well as access to Greylock’s extensive Business Banking services.

Subject to NCUA approval, Franklin First’s membership will vote on the merger at their upcoming annual meeting scheduled for April 15, 2026.