Greylock Federal Credit Union posted $4.64 million in net income last year and boosted its regulatory capital to 8.76 percent from 8.05 percent at the close of the previous year.
The Pittsfield-headquartered credit union also posted assets totaling $1.1 billion and boosted its membership, with more than 2,700 new members joining in 2013.
In a statement, President Marilyn L. Sperling attributed some of the increase to the credit union’s mortgage and auto loan business, and credited the organization’s 245 employees with boosting membership and the institution’s financial performance.
"The continued strength of our mortgage and auto loan business is an important indicator of a recovering Berkshire economy," Sperling said. "Our members’ ability to participate in the economy through the purchase of homes and cars reflects the improving state of local families’ finances, which in turn has a positive effect on the business climate."
The credit union also introduced a new online banking product, external account transfers, electronic document signatures and a new mobile banking app.
Greylock closed out 2013 with 70,293 members, $817 million in total loans, $990 million in total deposits, $4.6 million in total earnings and more than $91 million in assets under management in the Greylock Investment Group.
