Greylock Takes A New Road

PITTSFIELD - As global credit markets careen from the impact of a meltdown in sub prime lending, Greylock FCU has launched a new auto loan program aimed at helping credit-challenged borrowers. The New Road Loan Program will initially charge borrowers about half the rate charged by some subprime lenders, Greylock said. The rate is reduced every six months if the borrower demonstrates solid payment history, and after three successful years in the program, the loan rate will be reduced to the conventional Greylock rate, the CU said. (c) 2007 The Credit Union Journal and SourceMedia, Inc. All Rights Reserved. http://www.cujournal.com http://www.sourcemedia.com

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