Stracuzzi said, “The SBA is crucial to continued economic development in the Berkshires. They work hand-in-hand with our lending team at Greylock to insure loans that may not otherwise be financed.”

Last year the SBA recognized Greylock’s achievement as the tenth largest SBA financial lender in the Commonwealth out of 119 financial institutions, the top SBA credit union lender in the state and the tenth most active credit union in the entire country for the fiscal year ending September 2007

Greylock Senior Vice President of Business Lending, Don Kuczarski said, “In 2007 Greylock approved 37 SBA-supported loans. To date in 2008, Greylock has approved 23 loans and is on track to remain among the most small business lenders in the state. That fact alone speaks volumes about the confidence small business people have in our local economy and in the strength of Greylock.” The loans were sought by a diverse array of businesses including recreational facilities, plumbing contractors, bakeries, restaurants and commercial real estate developers.

“A large percentage of our Credit Union members own or operate small businesses or are self-employed,” Kuczarski said. “We work closely with our customers in evaluating their business plans, helping them avoid the most common pitfall facing small businesses - the lack of adequate capital. In partnering with the SBA Greylock Federal is helping more businesses get through the start-up phase, take on new capacity, or add equipment to service their customers.”

Greylock Federal offers a full array of business banking products including: business checking and savings accounts, business credit cards, online banking, business insurance referrals to Greylock Insurance Agency, payroll services and a full range of commercial loan products to meet any business need.

Greylock Federal Credit Union was recently rated the top credit union in the United States for total value returned to Members/Owners according to Callahan & Associates, a national credit union research and consulting firm. Greylock Membership is open to anyone who lives, works, attends school, worships or regularly conducts business in Berkshire County. Greylock Federal is wholly owned by its more than 60,000 members and Greylock offers full-service branches in Pittsfield, Great Barrington, Lee, Adams, North Adams, and Williamstown. More information is available at www.greylock.org.