Cranbury-based Member Support Services, a shared services credit union service organization that processes middle- and back-office operations for its shareholder credit unions, announced this week that Greylock Federal Credit Union had joined its network.
Greylock, based in Massachusetts, has $1.6 billion in assets under management — making it the largest addition to MSS’s collaborative network to date.
MSS aims to help credit unions better serve their members through improved access to technology, operational efficiencies and economies of scale. By leveraging MSS’s integrated technology solutions, Greylock should be able to enhance operational scale and efficiency, improve member services, and increase purchasing power across the network.
MSS CEO Vim Anand welcomed Greylock.
“In today’s environment of rising costs and rapid digital transformation, the investments required to stay competitive can feel overwhelming for many credit unions,” he said. “By joining MSS, Greylock will deliver greater value to its members while preserving its brand and contributing to our network’s collective strength.
“This collaboration enables Greylock to achieve the scale necessary to continue delivering outstanding value to its members and supports our goal of building a more resilient model for all credit unions.”
Anand said Greylock will join long-standing MSS members, including the Credit Union of New Jersey, strengthening shared investments in technology and services such as lending, collections, and IT. By leveraging jointly negotiated vendor contracts, Greylock and MSS member institutions will also benefit from significant cost savings, reducing expenses for essential services across the network.
Greylock CEO John Bissell welcomed the partnership.
“At Greylock, serving our members and our community has always been at the heart of what we do,” he said. “By joining MSS, we’re strengthening our ability to address the unique needs of our members while preserving our independence. This collaborative model empowers us to innovate and improve our efficiency, ensuring we continue to deliver exceptional value and support to our members as we grow.”
MSS officials say they have a strong track record of delivering tangible value to its member credit unions. Since joining MSS, partner unions have achieved significant improvements in processing efficiencies, reducing efficiency ratios by 20 to 30 basis points. With Greylock now part of the network, these efficiencies are expected to improve, enhancing the collective performance and cost savings for all members, MSS officials said
Beyond financial and operational advantages, MSS officials say their model helps member CEOs connect, exchange insights, and share strategies, creating a valuable support network to navigate industry challenges.
