Two credit unions in Pittsfield, Massachusetts, have agreed to merge.
The $1.5 billion-asset Greylock Federal Cedit Union said Friday that it will merge with the $23 million-asset Credit Union of the Berkshires.
The merger is expected to be completed in late fall.
“We know that the credit union difference remains strong in Berkshire County. We look forward to completing the merger and
combining the resources of CUB and Greylock to help the community thrive," Greylock President and CEO John Bissell said in a press release.
Credit Union of the Berkshires has about 2,000 members and one branch, while Greylock FCU has more than 89,000 members and has branches in Pittsfield, Great Barrington, Lee, Adams, North Adams, Williamstown, Lanesborough and Lenox, Massachusetts as well as Greenport, New York.
"We are confident our members will receive the highest quality of service they are accustomed to and deserve at Greylock. Greylock’s mission and core values align perfectly with Credit Union of the Berkshires and that’s why we have chosen Greylock as our merger partner,” CUB Chief Executive Melissa Morin said in the press release.
The credit unions need regulatory approval from the National Credit Union Administration, Massachusetts Division of Banks and Massachusetts Credit Union Share Insurance Corp.
Credit Union of the Berkshires will also seek approval from its membership.
