INsider Amalgamated Bank

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volume 7 ••• Winter 2010

President's Message

Amalgamated Bank Website

Welcome to another edition of our INsider Newsletter. In this issue, you can learn about the new ways we are helping to improve the lives of working families in New York City at the same time we are enhancing the level of service we provide to our hard working customers.

The front page story focuses on our Real Estate Finance Division and its first lending transaction with Habitat for Humanity-New York City. We are providing financing for the construction of 16 affordable housing units in Brooklyn’s Bedford-Stuyvesant neighborhood. Our goal is to continue to partner with Habit for Humanity-New York City and other local organizations to increase the supply of affordable housing in New York City.

Also, we recently announced the launch of Amalgamated Investment Services, which will offer our customers a full array of investment options that go beyond traditional FDIC insured deposit products. In the INsider Interview, Regional Manager Carlos Sanchez outlines the range of insurance and investment products that are now available at our retail branches. The objective: to provide convenient “one stop” financial service that lets you work with our experienced Investment Consultants to create a personalized and diversified investment plan.

Personal investing, in fact, is the theme of this issue’s INsider quiz. “Test Your Money $marts” is adapted from the website of the U.S. Securities and Exchange Commission.

In addition, the story about our new “instant issue” Debit Card demonstrates how we are working to make your banking more convenient. Customers can now receive their ATM or Debit Card on the spot in any of our branches rather than waiting for it to arrive in the mail after they open an account. As you travel this summer or anytime, remember you can use your Amalgamated Bank Debit Card with no fees at any of the more than 37,000 ATMs in the Allpoint Network.

Once again, I want to thank you for allowing Amalgamated Bank to serve your banking and financial needs. If you have an idea or suggestion for how we can improve our service, please email me at

Yours truly,

Derrick D. Cephas

Derrick D. Cephas
President and Chief Executive Officer