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volume 7 ••• Winter 2011

Amalgamated Bank Continues to Expand its Branch Network

Opens New Branches in Brooklyn, the Bronx and Queens

Midwood Ribbon Cutton
Amalgamated Bank’s President & CEO Derrick Cephas cuts the grand opening ribbon, joined by Branch Manager Kate Lev (right) and Brooklyn Borough President Marty Markowitz, at the Bank’s new Midwood Branch in Brooklyn. (Photograph by Arthur DeGaeta)

This fall, Amalgamated Bank continued its branch expansion initiative by opening several additional branches. Between April 2007 and January 2011, Amalgamated will have practically doubled the size of its retail banking network. Amalgamated provides a full array of competitively priced banking products and services to growing numbers of hardworking people and small businesses in the New York metropolitan area and in select markets nationwide.

“Since 2006, we have been steadily increasing the size and scope of our branch network,” said Amalgamated Bank’s President and CEO Derrick D. Cephas. “During this next phase of our expansion we have continued to add branches in neighborhoods in New York City to enhance the level of service we provide to our customer base.”

“Working people rely on us to be their trusted financial partner. They know that we are a safe and secure bank focused on helping them achieve their financial goals. Giving our customers a wide choice of convenient branch locations is another way we are fulfilling our progressive banking mission.”

On August 31 of this year, Amalgamated opened its newest Brooklyn branch at 1201 Avenue J in the Midwood neighborhood. This gives the bank four branches in that borough. Following Midwood, the other branch openings unfolded as follows:


The Bronx—at 2178 White Plains Road opened on September 23,
Maspeth, Queens—at 69-73 Grand Avenue on October 27, and a new branch in
Jackson Heights, Queens—located at 78-19 37th Avenue. (Will open in early 2011)

“Each time we move into a new neighborhood, the Bank builds alliances with local community organizations and business associations,” said Amalgamated’s Senior Vice President and Director of Retail Banking, George Maloney. “Our branches provide more than just checking and savings accounts. They offer a broad array of products such as residential mortgages and investment services for individuals and families.

We have the expertise, products and resources
to meet the banking needs of businesses in every neighborhood we serve.

—Derrick D. Cephas, President and Chief Executive Officer

“We take an active role in the communities we serve by working with local not-for-profit organizations to present our series of free Money Sense financial education workshops on such topics as budgeting, debt management and the road to responsible home financing.”

Also, reaching out to the business community in each neighborhood is a critical aspect of each branch opening. “We have the expertise, products and resources to meet the banking needs of businesses in every neighborhood we serve,” continued Mr. Maloney. “From local merchants and service businesses to professional firms, Amalgamated Bank is built to serve small businesses.”