***FOR IMMEDIATE RELEASE***
Contact:
Michelle Dwyer, President/CEO
Franklin First Federal Credit Union
413-774-6700
michelle@franklinfirst.org
Roberta McCulloch-Dews, VP Marketing
Greylock Federal Credit Union
413-344-1056
rmcculloch-dews@greylock.org
Greylock Federal Credit Union and Franklin First Federal Credit Union Agree to Merger
(December 10, 2025) - 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 Michelle Dwyer, President and CEO of Franklin First.
“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.
About Franklin First:
Franklin First Federal Credit Union is wholly owned by its Members and currently serves more than 7,000 members at its branch at 57 Newton St. in Greenfield, Mass. The credit union began in 1958 at Franklin County Public Hospital, and went on to include four different credit unions under its name. Anyone who lives, works, attends school or worships in Franklin County can join Franklin First. To learn more, visit www.franklinfirst.org. Equal Housing Lender. Insured by NCUA.
About Greylock:
Greylock is wholly owned by its Members and offers full-service branches in Pittsfield, Great Barrington, Lee, Adams, North Adams, Williamstown, Lanesborough, and Lenox, Mass., and Greenport/Hudson, N.Y. Greylock has a Low-Income Designation (LID) from the National Credit Union Administration (NCUA) and certification by the U.S. Treasury Department’s Community Development Financial Institutions (CDFI) Fund allowing the Credit Union to offer expanded services to low- and moderate-income families. More information is available at www.greylock.org. Equal Housing Lender. Insured by NCUA.
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