Greenfield Cooperative Bank will be Re-Opening Lobbies for Public Access
Michael Tucker, President & CEO of Greenfield Cooperative Bank and its Northampton Cooperative bank division, announced that the bank will be re-opening its lobbies for public access effective Monday, June 1, 2020. Mr. Tucker noted that “as a bank we have already been authorized to stay open (since the March 24th shutdown) as an essential business. Since that time, we had very limited public access while we learned more about the COVID-19 situation to allow us to provide reasonable protections for customers and our staff.” During the past two plus months, customers could access drive-up tellers, ATM’s and online/ mobile banking available to the public. These services will continue to operate as before even with the re-opening of lobbies.
Chelsea Depault elected Assistant Vice President - Commercial Lending
Michael Tucker, President & CEO announced that at Tuesday night’s meeting of the Board of Directors, Chelsea Depault was elected to the position of Assistant Vice President- Commercial Lending.
IRS Direct Deposit of Stimulus Checks
This week banks will be receiving the first batch of the so-called “Stimulus Checks” (by electronic direct deposit) for all qualifying recipients. The government is sending $1,200 to single Americans (depending upon your income levels). According to the IRS website married filing jointly persons will receive $2,400 for the couple, and an additional $500 per child is paid to those with dependents under age 17. Please note that the IRS has the final say on rebates. We don’t know if the IRS has you on their list for a rebate, we can only tell you if we have received it for you.
Bankers Say Institutions Are Committed to Helping Communities Through the Crisis
Greenfield Cooperative Bank President and CEO, Michael Tucker, joined Steve Lowell at Monson Savings Bank, Chuck Leach at Lee Bank, Tom Senecal at PeoplesBank, and Jeff Sullivan at New Valley Bank & Trust for a virtual roundtable with BusinessWest about the impact the COVID-19 pandemic is having on life and business.
A Message from President & CEO, Michael Tucker regarding COVID-19
Listen to an update from Michael Tucker, President & CEO of Greenfield Cooperative Bank and the Northampton Cooperative Bank division on what GCB and NCB are doing to help customers and staff during the COVID-19 outbreak.
Or visit our Facebook page to watch the video of his statement
Greenfield Co-operative Bank Announces New Payment Option for Customers as a result of Coronavirus (COVID-19) issues
Michael E. Tucker, President & CEO of Greenfield Co-operative Bank and its Northampton Cooperative Bank division, was pleased to announce that our community bank board has approved a program to provide a “Payment Holiday” for existing GCB customers who have a portfolio loan at GCB to defer making their monthly payments coming up in April and May for up to 60 days. For eligible customers who wish to “Opt In”, there will be a simple form to complete. The payments usually due for April and May would simply be added to the back end of the loan term. Customers would then not have to make those payments until the end of the original term. The term would be extended 2 months to allow those payments to be made at the end of the original term.
If you have a fixed rate Federal National Mortgage Association (FNMA) loan that is serviced by GCB, we regret we are unable to offer this program at this time. We are contacting FNMA to see what might be available and will notify the public if circumstances change.
Tony Worden elected Chief Operating Officer (COO) of Greenfield Co-operative Bank
Michael E. Tucker, President & CEO of Greenfield Cooperative Bank is pleased to announce that Tony Worden was elected by our Board to a new position of Chief Operating Officer (COO) of Greenfield Co-operative Bank. This will be in addition to his duties as Executive Vice President & Senior Commercial Loan Officer. This is effective immediately.
South Hadley Branch Now Open
Michael E. Tucker, President & CEO of Greenfield Co-operative Bank and its Northampton Cooperative Bank division, announced the opening of its newest office at 487 Newton Street in South Hadley. The office is located at the entrance to the Woodlawn Shopping Plaza, rte. 116. “We are pleased to bring our brand of personal community banking to the residents in South Hadley and surrounding communities.” Tucker noted “The South Hadley office is a full-service office, offering a full array of savings and checking services, commercial loans and business accounts, as well as the latest in free mobile banking services where you can pay bills, transfer money and deposit checks via your smartphone. You can apply for residential mortgage loans and home equity lines of credit and the South Hadley office also provides convenient drive up teller services, a Night Depository, drive up 24 hour ATM, Instant Issue Debit cards, Safe Deposit Boxes and more. Courtney Huxley is Assistant Vice President and Branch Manager. Maureen Guzik, Vice President - Commercial Lending is available on site as well. GCB offers a full line of commercial services, including business accounts, commercial loans and lines of credit.
New Location Branch Manager and New Mortgage Loan Originator Join GCB
Courtney E. Huxley has joined the bank as the Branch Manager of our new South Hadley location. Mr. Tucker stated “Ms. Huxley has over 15 years of banking experience. Most recently, Courtney was the Branch Manager at another bank in Northampton. Prior, she was coincidently the Branch Manager at a bank in South Hadley, the location of which we purchased and are scheduled to open in January 2020. Until our South Hadley branch opens, Courtney will be based out of our College Street, Amherst location.” Ms. Huxley has a bachelor’s degree from the University of Rhode Island. She was awarded for her community involvement in 2018 by the Massachusetts Market President’s Office. Courtney resides in Easthampton.
Gabrielle T. Young has joined the bank as a Mortgage Loan Originator. Mr. Tucker stated “Ms. Young has over 10 years of banking experience. Most recently, Gabrielle was a Financial Center Operation Manager at another area bank. In her new role, Gabrielle will be responsible for educating and guiding borrowers through the mortgage loan application process. She is currently working out of our Florence location but will be permanently based at our 67 King Street location beginning in January 2020.” Ms. Young, an Easthampton resident, studied business at the University of Hartford. She is current in all banking regulation training.
114th Annual Meeting Reports Strong Performance
Michael Tucker, President & CEO of Greenfield Cooperative Bank and its parent company, Greenfield Bancorp, MHC announced today actions taken at the Company's 114th Annual Meeting held in Deerfield, MA on Tuesday, June 18, 2019.
Bank Directors and Corporators Re-elected / elected at 114th Annual Meeting
Michael Tucker, President & CEO of Greenfield Cooperative Bank and its parent company, Greenfield Bancorp, MHC announced today that several elections and re-elections were acted on at the Company's 114th Annual Meeting held in Deerfield, MA, June 18, 2019.
CO-OP BANK offers equity building assistance to homebuyers
GCB has been selected to participate in the Federal Home Loan Bank of Boston’s Equity Builder Program, which assists local homebuyers with downpayment and closing costs as well as homebuyer counseling and rehabilitation assistance. The $3.6 million program provides grants to financial institutions to assist households at or below 80 percent of the area median income. Borrowers are eligible to receive up to $15,000 in assistance on a first come first serve basis. Buyers must also complete a homebuyer counseling program.
“Homeownership is not easily attainable for many households, so we are pleased to offer this assistance to help individuals and families purchase a home. Homeownership helps build wealth and create financial stability, and programs that assist homebuyers can be effective in adding to the vibrancy of our communities,” said Jane W. Trombi, Senior V.P. of Residential Lending, Greenfield Cooperative Bank.
Greenfield Cooperative Bank is eligible to receive up to $150,000 in 2019 through the Equity Builder Program depending on availability of funds. Funds are available on a first come, first served basis. Credit approval and other conditions apply. Please contact Greenfield Cooperative Bank’s Residential Loan Origination Department at 413-772-5000 ext. 490 for more information.
The Federal Home Loan Bank of Boston is a cooperatively owned wholesale bank for housing finance in the six New England states. Its mission is to provide highly reliable wholesale funding and liquidity to its member financial institutions in New England. The Bank also develops and delivers competitively priced financial products, services, and expertise that support housing finance, community development, and economic growth, including programs targeted to lower-income households.