Greylock Federal Welcomes Senior Vice President, Chief Financial Officer

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PITTSFIELD, Mass. — Following an extensive search, Greylock Federal Credit Union has announced the hiring of Michael A. King, CPA, as Senior Vice President, Chief Financial Officer. 
 
King brings extensive banking and finance experience in budgeting, forecasting, financial reporting and analysis, capital and liquidity management, plus team development and management.
 
"We are excited to have a person with Mike's skills and background join the Greylock family," said President and CEO John L. Bissell. "His experience and depth of knowledge make him a welcome addition to our leadership team."
 
As a member of the senior management team, King is responsible for assisting the overall financial management of the credit union, ensuring financial stability and sound financial strategy balanced with the best interests of the membership. His input will be key to the strategic direction and vision of the CEO and Executive Vice President. Additionally, King will participate in the formulation and implementation of Credit Union policies and objectives, as well as long-range planning and forecasting.
 
"I'm thrilled to be joining this amazing team," King said. "Greylock does so many great things for our Members and our community, and I'm excited to be a part of that."
 
King has 15 years of financial services experience. Most recently, he served as Senior Vice President/Head of Financial Planning and Analysis (FP&A) with Berkshire Bank, where he focused on budgeting, forecasting, financial reporting and analytics for the $12 billion commercial bank. King holds a Master of Business Administration degree from the Ross School of Business, University of Michigan.
 
 King lives in Pittsfield with his fiancée Cheryl and their dog Beau.

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Pittsfield Council OKs $3M Borrowing for Failing PHS Boilers

By Brittany PolitoiBerkshires Staff

PITTSFIELD, Mass. — The City Council has authorized the borrowing of $3 million for new boilers at Pittsfield High School — a project that was originally going to be funded by ARPA.

The nearly 100-year-old boilers are original to the building and have exceeded their useful life, officials say. They are converted locomotive engines that are extremely inefficient and expensive to maintain.

The replacement design was recently completed and a low bid was received. After looking at the numbers, it was clear that the allocated $1 million in American Rescue Plan Act funds would not be enough.

"$213,210 was spent on emergency repairs and the design work for the replacement project," Finance Director Matthew Kerwood confirmed in an email.
 
"The low and only bid for the replacement was $2,482,000, however given the complexity of this project I felt that a 20 percent contingency would be needed which gets to the $3,000,000 authorization. If the entire amount is not needed, the remaining unused balance will be rescinded at some point in the future."

The project is also time-sensitive, as one boiler is non-operational and another is severely compromised. If they fail during the heating season, the school will have to close.

"The contractor that was the low bid, in 30 days he can walk away from that bid if he wants to, and the other problem is I need to get this project underway to hopefully get them in and running by the time school reopens up for wintertime," Building Maintenance Director Brian Filiault explained.

"This is a major project, a major project. We're taking three locomotives out of that building and it's no easy thing. I mean, the building is built around it and we have a small portal that we actually will be able to get it out, we'll have to crane everything else. It's a very labor-intensive, very hard job, and I'm afraid of the timeframe because I can't run those boilers again. They've gone as far as they're going to go."

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