NEW YORK, July 26, 2016 – Amalgamated Bank, the nation’s leading progressive bank, today announced it has been admitted into the prestigious Global Alliance for Banking On Values (GABV), an international not-for-profit organization and independent network of banks and banking cooperatives with a shared mission to use finance to deliver sustainable economic, social and environmental development. Amalgamated joins the 40 other international financial institutions and strategic partners who seek to advance a better form of banking, one that’s socially, economically and environmentally conscious.
“As the nation’s most progressive bank, Amalgamated Bank is proud to join a growing group of like-minded and mission-driven financial institutions focused on making a positive impact in the world,” said Keith Mestrich, President and CEO of Amalgamated Bank. “Restoring trust in the banking industry is one of our primary goals; by partnering and working together with the other GABV members we can learn, support and lead in this mission.”
Collectively the GABV members serve more than 24 million customers, hold up to $110 billion USD of combined assets under management, and are supported by more than 42,000 co-workers. Amalgamated Bank was one of eight new members announced today.
“I’m delighted to welcome these trailblazers to an independent network of banks and banking cooperative that put people before profit,” said Dr. Marcos Eguiguren, Executive Director, GABV. “Each member brings a unique perspective and expertise on how to use finance to create positive economic, social and environmental impact for the individuals, organizations and communities they serve. Our research has proven year after year that there’s profit and positive impact when banks connect deeply with customers and innovate to serve real needs and the real economy. We ask, ‘Why isn’t all banking done this way?’ I look forward to connecting our latest members from Afghanistan, Ecuador, Nigeria, Palestine, Peru, Switzerland, and the USA, to an inspirational network of international banking experts and partners delivering on a mission that puts banking back in service of people, the economy and the environment.”
Today’s news comes just one day after Amalgamated Bank President and CEO Keith Mestrich was chosen to join the inaugural class of the Aspen Institute’s Finance Leaders Fellowship—22 leaders who will participate in a two-year Fellowship designed to inspire them to take an active role in shaping the global finance industry’s future through values-based leadership.
About Amalgamated Bank
For nearly a century, Amalgamated Bank has been a financial institution with a purpose: affordable and accessible banking for all. Offering customers nationwide the products and services of a major financial institution, Amalgamated is committed to the values on which it was founded. We proudly advocate for workers’ rights and promote the highest standards of environmental, social and corporate governance practices, which is why we are the first choice of progressive organizations and people from presidential campaigns and labor unions to individuals who want a bank that believes everyone should be able to participate fully in our economy. We serve our communities with the core principle that the real currency of banking isn’t dollars it’s trust.
About the GABV
The Global Alliance for Banking on Values is a not-for-profit organization and independent network of banks and banking cooperatives with a shared mission to use finance to deliver sustainable economic, social and environmental development. Founded in 2009, the GABV comprises 36 financial institutions and four strategic partners operating in countries across Asia, Africa, Australia, Latin America, North America and Europe. Collectively we serve more than 24 million customers, hold up to $110 billion USD of combined assets under management, and we are supported by more than 42,000 co-workers. Learn more about the GABV and how we’re working to build a growing, global, values-based banking movement. Latest news: