Amalgamated Bank


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Increasing Affordable Housing

The Bank makes available affordable residential mortgages  for 1-4 family homes, including coops and condos. We sponsor and participate in a variety of first-time homebuyer and foreclosure prevention education programs developed by many of our community partners, including Neighborhood Housing Services of New York City and the New York Mortgage Coalition.

The Bank's Housing Loan Program  provides financing to government-supervised moderate and middle-income multi-family housing developments located in the NYC metro region. Loan proceeds and, frequently, NYSERDA energy-saving grants can be used to finance capital improvements including energy-saving improvements and other repairs such as roof replacements, boiler upgrades and replacements, window replacements, fade repairs and elevator renovations.

Our Real Estate Group works closely with the Community Development Division to make available construction and permanent financing for the preservation and development of affordable housing as well as for other community development-type projects including community health and child care centers.

First-time Homebuyer and Foreclosure Prevention Education and Technical Assistance:

  • The Bank offers First-time homebuyer and Mortgage Foreclosure Prevention Seminars throughout the year at various Bank branch locations. Click here for upcoming workshops. 
  • Neighborhood Housing Services of NYC (NHS) is the Bank's partner in providing housing counseling services to DC37 members at the Union's headquarters in Lower Manhattan. The Municipal Employees Housing Program is a unique partnership with NHS, the Bank, DC37 and the NYC Office of Housing, Preservation and Development offering both counseling and down-payment and closing cost financial assistance to eligible first-time homebuyers. NHS offices located throughout NYC can also provide counseling assistance to others who are seeking to purchase their first home or are facing home foreclosure.
  • Amalgamated is a member bank with The New York Mortgage Coalition. Grants, loans, homebuyer education, foreclosure prevention and mortgage counseling services are available through the Coalition, a nonprofit organization administered by ANHD that helps low- and moderate-income residents of New York City, Long Island and Westchester County to become homeowners and avoid foreclosure. The Coalition and the Bank have recently joined forces to provide MoneySense and housing workshops for the union members of 1199 SEIU and Teamsters Local 237.
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