This program operates in a similar fashion to our Patient Fund Program. Amalgamated Bank establishes a separate interest bearing statement savings account on behalf of each facility resident. The facility serves in a representative payee capacity.
The Burial Fund Program provides ready access to funds and full documentation including quarterly interest statements.
To establish an account on behalf of the resident, your facility only needs to supply the resident's name and social security number. There is no need for a resident's signature and a passbook is not issued.
An interest bearing lump sum facility / resident fund checking account may be established as an alternative to individual resident savings.
All deposit accounts listed are FDIC insured.
For more information on the Amalgamated Bank Burial Program, or to make an appointment, call one of our Health Care Relationship Managers at (212) 895-4600, or email us at hcfs@amalgamatedbank.com.
