Greenfield Savings Bank to open new branch in Hadley in May 

New location will be fifth in Hampshire County, third in last two years 

  • Greenfield Savings Bank is opening a new branch at 140 Russell St. in Hadley in May. GAZETTE STAFF/Bryan Bowman

  • Michael Cherry, office sales manager of Greenfield Savings’ downtown Northampton branch, demonstrates the ITM. GAZETTE STAFF/Bryan Bowman

For the Gazette
Sunday, March 04, 2018

HADLEY — Greenfield Savings Bank is sinking its roots deeper into Hampshire County.

In May, the bank will open a new branch at 140 Russell St. in Hadley, according to Executive Vice President and Chief Operating Officer Denise Coyne.

Greenfield Savings is the largest regional bank in Franklin County, in terms of lending and assets, according to Coyne. The expansion comes less than a year after the bank opened two branches in Hampshire County, in Amherst and Northampton. The new Hadley location, which most recently housed Arrha Credit Union, will be the fifth Greenfield Savings Bank branch in Hampshire County.

“Our customer base has been growing in Hampshire County, and we saw this as a great opportunity for us to sort of bridge the gap between our downtown Northampton and downtown Amherst locations,” Coyne said.

According to Coyne, Greenfield Savings Bank has seen a steady rise in assets, deposits and capital over the past five years. Other regional banks interviewed by the Gazette in early February, including Peoplesbank, Florence Bank, Easthampton Savings Bank and Berkshire Bank, have all also seen significant growth in recent years.

Coyne attributes much of Greenfield Saving’s recent success to its emphasis on online and mobile banking. “With our mobile banking app, we can offer all the services that national banks can,” Coyne said.

Coyne said the bank is planning to hire at least four new full-time employees, including an office manager, to work at the new branch.

The new Hadley branch also will have an interactive teller machine that connects customers remotely through live video to tellers at a call center in Turner Falls. An ITM already is used at Greenfield Savings’ downtown Northampton and Amherst locations.

The ITM, to be located in the branch vestibule, will offer remote teller communication for extended hours when the branch is closed.

Michael Cherry, the office sales manager of Greenfield Savings’ downtown Northampton location, said the ITM is growing in popularity, as more customers become aware of it. He said the feature is also convenient at busy times, when the tellers in the branch are engaged by many customers.

“We’re still pretty new in Hampshire County, so it’ll take us a few years to get to number one, but we’re working on it,” Coyne said.