| 1923 |
Founded by the Amalgamated Clothing Workers of America as New York City's first Labor Bank. |
| 1924 |
Introduces the first, unsecured personal loans for working people and their families. |
| 1925 |
Establishes Bank's headquarters at 15 Union Square in New York City. |
| 1927 |
Finances the Amalgamated Housing Cooperative, the first union-supported housing development in the United States, which is located in the Bronx. More housing units were added over the years and 700 families lived there by 1947. |
| 1948 |
Celebrates its first quarter century of operations and has total assets of $39 million. |
| 1955 |
Continues to broaden its range of consumer and commercial banking services. |
| 1957 |
Provides funding for the Park Reservoir Housing Cooperative in the Bronx, which is the first affordable housing development created under New York State's Mitchell-Lama Housing Program. |
| 1973 |
Becomes the first bank in New York City to offer totally free checking accounts. |
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Launches the Trust & Investment Services Division to serve the needs of union-related pension and benefit funds. |
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Completes 50 years of serving labor unions, working people and businesses and has total assets of $756 million. |
| 1977 |
Starts the Health Care Financial Services Division to meet the specialized financial and banking needs of nursing homes and health care facilities. |
| 1991 |
Begins the Housing Loan Program, which provides unsecured loans to affordable housing developments. Financing is earmarked for capital improvements to the facilities. |
| 1992 |
Introduces the first LongView Equity Index Fund, which provides union pension funds with investment products and actively advocates for enhanced shareholder value. |
| 1995 |
The Amalgamated Clothing and Textile Workers Union merges with the International Ladies Garment Workers Union. |
| 1998 |
Opens a full-service branch in Washington, DC. |
| 2000 |
Creates a full-service branch in Northern New Jersey. |
| 2002 |
Expands into Southern California by opening a full-service branch in Pasadena. |
| 2004 |
HERE (Hotel Employees and Restaurant Employees International Union) creates UNITE HERE, which is the Bank's owner. |
| 2006 |
Completes sale of the Bank's headquarters building at 15 Union Square in New York City. |
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Receives approval from New York State to create a Banking Development District in Long Island City, Queens. |
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Assets exceed $4.5 billion. |
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Announces that during the past 15 years, the Housing Loan Program has provided over $300million in loans to affordable housing units for capital improvements. |
| 2007 |
Moves into new corporate offices at 275 Seventh Avenue in New York City. |
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Opens new, state-of-the-art branch at 10 East 14th Street in Manhattan. |
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Welcomes first customers to the Bank's newest branch at 36-16/18 21st Street in Long Island City, the first local bank to open and serve the neighborhood in decades. |
| 2008 |
Opened our first three branches in Las Vegas to serve members of Culinary Workers Union, Local 226 and southern Nevada's working families. |
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Increased assets under management in the Institutional Asset Management Division to nearly $13 billion by June 2008. |
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Closed a series of Corporate Banking lending transactions valued at over $60 million during the first six months of 2008. |
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Closed $165 million in Commercial Real Estate loans by the end of the second quarter of 2008. |
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Secured Banking Development District (BDD) designations for Amalgamated Bank branches in Brooklyn's Bedford Stuyvesant and Sunset Park neighborhoods and the new Burnside Avenue branch in the Bronx. |
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Launched the "Homeownership & Financial Empowerment Center" to serve union members in Las Vegas. |
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Received $80 million in combined deposits from New York State and New York City for opening four BDD branches in underbanked sections of the Bronx, Brooklyn and Queens. |
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Introduced the LongView Quantitative Small-Cap, Mid-Cap, Large-Cap and International Equity Funds, which were designed and developed by our Institutional Asset Management Division. |
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Achieved an "Outstanding" rating from the New York State Banking Department and a "Satisfactory" rating from the FDIC in our Community Reinvestment Act examinations. |
