Greylock Federal Helps New Americans Attain ITIN

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PITTSFIELD, Mass. Immigrants who do not have a social security number are required to have an Individual Taxpayer Identification Number (ITIN) to actively participate in the U.S. financial system and apply for loans, such as credit cards, auto loans and mortgages, as well as to pay their taxes.
 
While some agencies or organizations may charge hundreds of dollars to help an immigrant apply for an ITIN, the service is free of charge at Greylock.
 
"At Greylock, we know that our new Americans comprise one of our fastest growing member sectors. It's absolutely vital that we provide them with safe and affordable financial services to support their goals for both the present and future," said President and CEO John Bissell.
 
According to a press release, since 2019, the credit union has helped more than 1,800 individuals obtain an ITIN. In 2023, Greylock's Certified IRS ITIN Agents helped submit 602 ITIN applications to the IRS, opening the door to financial resources for community members who need this access to support their financial wellness.
 
While not every new ITIN recipient will apply for a loan through Greylock, many have utilized these resources. Through Greylock's lending programs, members have access to tailored lending products such as a Credit Builder Loan, Borrow and Save Loan, Lifeline (a small dollar installment loan), New Road Loans for new and used vehicles, and most recently, ITIN mortgages.
 
Since 2019, Greylock has approved over 2,000 ITIN loan applications for over $27 million. In 2023, Greylock approved 660 ITIN loan applications for $7,172,409, and the credit union is on pace to exceed those numbers in 2024.
 
"Of course, we are thrilled with those numbers," Bissell added, "but what excites me the most personally is that each one of those ITIN loan applications represents a new American who is working hard to achieve their American Dream."
 
To learn more about Greylock's ITIN offerings, email Bob Maxwell, Senior Content Producer, at bmaxwell@greylock.org.

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Habitat For Humanity Modular Homes Coming to Robbins Ave.

By Brittany PolitoiBerkshires Staff

The homes will be available for residents earning between 55 and 65 percent of the area median income. 

PITTSFIELD, Mass. — The first of two below-market modular homes arrived on the West Side on Thursday, and both are expected to be move-in ready this summer.

The other is expected next week.

Central Berkshire Habitat for Humanity is building two below-market condominiums at 112 Robbins Ave. for families earning between 55 percent and 65 percent of the area median income. Monthly costs for the three- and four-bedroom units are expected to be less than $1,500 with Habitat's subsidies.

Modulars allow for quicker construction to get more families into quality, affordable housing.

"Just because we have such an aggressive schedule this year, we are doing many modulars in addition to the stick-built that we usually do," communications manager Erin O'Brien explained.

Just this year, the nonprofit is constructing five homes in Pittsfield and 10 in Housatonic.

The two homes at 112 Robbins Ave. will come to $148,000 for a three-bedroom with the 20 percent subsidy and $156,000 for a four-bedroom. Similar homes in the Pittsfield area are valued between $225,000 and $250,000.

While prices are subject to change, the three-bedroom condo will cost owners about $1,430 per month and the four bedroom $1,495 per month, compared to renting in the city for more than $1,800 per month. Habitat noted that this provides a potential annual savings of $4,500 to $6,000, while building equity and long-term financial security.

The eligibility range between 55 percent and 65 percent AMI is said to support families who earn too much for most housing subsidies but still struggle to afford market-rate homes.

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