By Carli Scolforo, The Berkshire Eagle
Reducing barriers to homeownership, securing affordable housing for members of the local workforce, and providing vital resources for under-resourced members of our community. These are just some of the many ways that Greylock Federal Credit Union demonstrates its commitment to the communities it serves. Examples of these stories, and more, are highlighted in Greylock’s 2023 Impact Report, which will be published later this month, and will soon be available to the public throughout its branches and on its website.
“At Greylock, our community investment encompasses more than just dollars and cents. Each area of giving and support directly ties into our mission, who we are as a financial cooperative, and our deep commitment to cultivating strong communities one step at a time,” said JamieEllen Moncecchi, Greylock’s Senior Vice President, Chief Administrative Officer. “The Impact Report offers an opportunity to further reflect on and share this important work. I would also like to extend a special acknowledgement to Jennifer Connor-Shumsky, Assistant Vice President of Community Support and Events, who has worked diligently over the years to build and cultivate many of these meaningful partnerships.”
Three of Greylock’s community partners sat down with The Eagle to discuss how the credit union’s support enabled their missions to thrive.
BUILDING A STRONGER NEIGHBORHOOD WITH THE WESTSIDE LEGENDS, INC.
Greylock Federal Credit Union’s Pittsfield roots date back to the establishment of the credit union in 1935. Since then, the credit union has sought enriching partnerships to enhance the wellbeing of community members in its home city. Its collaboration with the Westside Legends, Inc., is one such example. The Westside Legends formed with the mission to improve the quality of life for residents living in the West-side, a purpose for which Greylock has fully supported. Westside
Legends co-founder and President Tony Jackson recalls it all started with a simple mural project. The organization formed when Jackson and his cofounders—Lloyd Nolan Jr., Beverly Bolden, and Marvin Purry—joined together with a mission to give back to the neighborhood that had given them so much growing up. Soon, community-gathering efforts like block parties and go-kart races evolved into longstanding art pieces like the Ruby Bridges mural on Center Street in Pittsfield. When Greylock came on board to help fund the mural’s creation, it opened the door to an even more ambitious project.
“Coming back home, we could see the houses being torn down and we were just saying, ‘Wow, our neighborhood has empty lots and houses that are not in good shape,’” Jackson recalled.
During the meeting to discuss the mural, Jackson said Bissell affirmed the group’s sentiments. The attendees then shared ideas on what a partnership between the two entities could look like.
“The CEO of Greylock, John Bissell, stood up and said, ‘We need some help. We have a very low rate of minority homeownership in Berkshire County.
He (John) then asked us to come up with a program to make it easier for people of color and first-time homebuyers from the Westside to be able to get mortgages.’”
Together, the Westside Legends and Greylock worked to create programs that eliminate barriers for homeownership. This includes free classes that provide judgment-free education on financial literacy and homeownership, as well as loans catered to those with low incomes or challenging credit scores.
Jackson said the program was an immediate success.
“It became contagious. Once one person found out they could do it, it led to a trail of other people, and our numbers are incredible. We’ve been doing this for a year and a half, and we’ve had 37 families close on houses. I never thought we were going to be able to hit that number within a year and a half,” he said. While some other organizations might look at this success and think the work was complete, for the Westside Legends and Greylock, this is only the beginning. “Sometimes, people would
get mortgages and get pre-qualified for houses that weren’t in great shape. Most of the old houses in Pittsfield are old stock,” said Jackson, referring to the Westside Legends’ “Buy Back Our Neighborhood” program financed through Greylock’s commercial department. “So, we also went back to Greylock, and bought houses to start rehabbing them and selling them to people in the program.”
This particular program, which also receives funding through the American Rescue Plan Act (ARPA) from the city of Pittsfield, has already begun to breathe new life into the homes on the Westside that have fallen into disrepair over the years.
With the combined help from Greylock, the city of Pittsfield, and other community-centric organizations, Jackson feels confident that better days are ahead. “I’m telling you, Pittsfield is going to change within the next five to 10 years. It’s going to be amazing.”
MAKING AFFORDABLE HOUSING A REALITY WITH CONSTRUCT, INC.
Throughout Berkshire County, there’s a continuous need for affordable housing. The lack of workforce housing has been a persistent issue in southern Berkshire county for years, and Construct, Inc. has been integral to this conversation, working tirelessly behind the scenes to find tangible solutions.
Jane Ralph, executive director of Construct, said Greylock’s commercial department was instrumental in the nonprofit’s recent purchase of the Windflower Inn in Great Barrington.
“By providing a favorable rate, we were able to raise quite a bit of money for the down payment and repairs that were needed. We closed on Dec. 1 of 2022, and on Jan. 1, we were able to open the doors to folks who needed places to live,” Ralph said.
Ralph was amazed by the speed of the process.
“No other housing development can go that fast. It just doesn’t happen. It takes years to either renovate or build from scratch. We could not have done this without Greylock. Now, we have emergency housing on that property and we’re housing 13 essential workers for the South Berkshires,” she said.
Construct doesn’t just create housing for individuals with low incomes and essential workers; they help those who need additional supports toward obtaining other housing solutions.
To this end, Ralph mentions Cindy Shogry-Raimer, VP and Director of Community Development at Greylock, whom she met while doing volunteer work with the Berkshire United Way.
“We were really looking at how to help more people in Berkshire County achieve economic prosperity,” Ralph recalled. “That meant earning at least a sustainable wage, and being able to live comfortably and take advantage of the things that the Berkshires have to offer.”
When speaking with local residents looking for housing, Ralph said that “many people could sustain the monthly rent, but they couldn’t afford the startup costs and the move-in costs to get in there.” With Shogry-Raimer and the team at Greylock, they devised a solution: low-interest microloans that not only provided needed funds to get started, but also expanded their relationships to include one-on-one conversations with a credit counselor and financial education classes.
The rental assistance and microloans offered by Construct, in partnership with Greylock, expand beyond housing. Emergency motel stays and short-notice fuel assistance are both available to keep people safe in the winter months as a part of the organization’s “Warm Up The Winter” initiative.
Ralph said these initiatives wouldn’t be possible without the care and involvement of Greylock from the top down. “CEO John Bissell is such a great role model. He really listens deeply to what the community needs, listens to hard things, and makes changes.”
ENSURING ACCESS TO VITAL RESOURCES WITH BERKSHIRE COMMUNITY ACTION COUNCIL
Berkshire Community Action Council, or BCAC, is another organization on the front lines of ensuring that Berkshire families have access to heating during the harsh winter months. The Low-Income Home Energy Assistance Program (LI- HEAP) is one of the ways that BCAC is meeting the needs of under-resourced residents in Berkshire County, and Greylock is a key supporter. Executive Director Deborah Leonczyk said LIHEAP assists these households with heating costs when money is tight.
Leonczyk recounted her thoughts after first meeting with the Greylock team. “I realized that they were going to be a partner for life, and through the years they have supported a myriad of programs,” she said.
BCAC also helps qualifying families winterize their home for better fuel efficiency, and provides more than 2,000 children with suitable winter clothing through the Elf Warm Clothing Program.
Though winter provides its own challenges, BCAC is busy year-round helping under-resourced families achieve self-sufficiency in a dignified manner.
There’s no shortage of ways that Greylock is available to help.
“It’s a great partnership. We want to help our clients get out of crisis; for example, being able to buy a car so that they can work,” said Leonczyk.
Greylock’s low-interest loan programs have helped BCAC clients with necessities such as obtaining reliable transportation or purchasing basic furniture when making the transition out of shelters. Having a welcoming financial institution to connect BCAC’s clients can make all the difference.
“The counselors at Greylock are sensitive, they’re compassionate, and they understand the struggles of low-income families. The environment Greylock creates allows people from all walks of life to build credit and attend classes to learn better financial practices through the Community Empowerment Center,” said Leonczyk.
Greylock doesn’t just assist BCAC’s clients directly— they’ve been able to help the organization invest in a new location closer to their clients in downtown Pittsfield.
“We have just moved our office and had it renovated, and Greylock gave us a capital grant. The building will have a very large conference center that’s named after Greylock, and that will be available for use to any non-profit free of charge,” said Leonczyk.
To read more about Greylock’s community partnerships, support and giving, be sure to obtain Greylock’s 2023 Impact Report. Copies will soon be available throughout all branch locations and online at greylock.org.