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Commercial Savings
Commercial Savings

Building cash reserves for your business

Our Savings Accounts and CDs are built on the premise that any additional funds your business has should be put in a position of growth. Whether you’re looking for full access to your funds at all times or want to invest for the short or long term, we offer a range of options with competitive rates.

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    Product details

    Savings Account

    Put your money to work for you while having the ability to access it whenever you need. Enjoy no minimum balance requirements and no monthly maintenance fee, among other benefits.  

    • Variable interest rates
    • Unlimited in-person deposits and withdrawals*

    Money Market Account

    Offering a higher rate of interest on larger balances, the money you save in a Money Market Account will accumulate faster.

    • Higher interest rates on higher balances
    • Minimum initial deposit of $1000
    • No monthly fee with an average daily balance of $1000 or higher; otherwise the monthly fee is $7
    • Unlimited in-person deposits and withdrawals*

    Certificates of Deposit

    Get a guaranteed rate of return on funds you set aside for a specific period of time. Whether you’re looking to open a CD with $500 or a higher amount up to $250,000, we have the right investment vehicle for you. Features include: 

    • Competitive interest rates
    • Flexible terms, ranging from three (3) months to five (5) years
    • Minimum initial deposit of $500
    • No  monthly maintenance fees
    • FDIC insurance

    Reciprocal Deposit (Savings) Program

    Giving businesses peace of mind with FDIC insurance on deposits over $250,000

    Our Reciprocal Deposit Program gives you the convenience of working with a single bank while enjoying the peace of mind of full FDIC insurance for balances over $250,000. It's a smart way for businesses to invest larger sums of money.

    Through CDARS (Certificate Deposit Account Registry Service), large deposits are broken into smaller deposits and placed at other member banks. This allows your entire investment to be eligible for full FDIC insurance coverage. 

    • Choose your investments - CDs, deposit accounts or money market accounts
    • Keep all of your funds working and insured with Insured Cash Sweep (ICS) service
    • Negotiate one rate on CD investments
    • Get access to full FDIC insurance on your total investment
    • Have all your accounts managed under one roof
    • Receive the high level of service and attention you expect from Amalgamated Bank

    * Transfers from Money Market accounts to another account or to third parties by preauthorized automatic, telephone, or electronic transfers are limited to a combined total of six (6) per month.

    How we’re different

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    Flowers on tree

    This afternoon I sent the following message to the Amalgamated Bank community: The events of this past weekend in Charlottesville have at the same time saddened and angered us. They have forced many Americans to once again reflect on the issues that continue to divide us as a nation.

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    hand holding heart

    We’re told from the moment we start working that the responsible thing to do is to set money aside and “plan for your future.” For many people, this means making regular contributions into an IRA or employee-sponsored 401(k) plan. These investments, if managed appropriately, are designed to be your “nest egg” into retirement and beyond.

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    Power plant

    The U.S. federal government has announced its intention to pull the United States out of the Paris Climate Agreement. Bad idea, sure, but maybe not the monumental setback in the fight against climate change that is feared by so many.