Greylock Federal Credit Union is an independent company, wholly owned by its members. This is what distinguishes the Credit Union from other financial institutions. Members put their money in a variety of savings accounts, and that money, in turn, is lent to members. After operating expenses and reserve requirements are met, loan income is returned to all members in the form of dividends and comprehensive financial services.
Greylock is governed by a Board of Directors that establishes and reviews policy. The Directors are Credit Union members who are elected by the Membership and serve without pay. Every member has one vote, regardless of how much he or she had on deposit. At the Credit Union, there is no select group of shareholders that profits more than anyone else. All Members profit — individually and collectively.