Flower buds in a field

Criminal Justice, Policing and Private Prisons

We affirm that Black Lives Matter and the embedded racism in the criminal justice system must be dismantled to end its oppression of Black people. Investments into community development, mental and physical health treatment, education, workforce development, and affordable housing need to be prioritized over policing and private prisons.

Who we are

  • Founded in 1923 by a union of immigrants, we have always been a bank that has believed in equal rights and the power of community organizing
  • Include racial justice and equity as core tenants of our corporate vision and values

  • Openly committed to addressing internal bias and racism through training, employee engagement, and pathways to leadership
  • Committed to hiring candidates with former convictions, where permitted, under state and federal regulations

Where we stand

  • Endorsed #8CANTWAIT reforms for police conduct and to support investments into community and economic development over policing

  • Amalgamated Foundation explicitly supports nonprofits led by People of Color and those fighting for racial justice as explicit criteria for grantmaking

  • Led a class action lawsuit against Core Civic, a leading for-profit prison, claiming that the company inflated their stock price by misrepresenting the quality and value of its services

What we do

  • We do not lend to weapons manufactures or distributors and private prison operators
  • We pioneered Restart Checking — an account for those who have been turned away elsewhere because of credit problems

  • Marshaled rapid response dollars through the Amalgamated Foundation to local activist group in Minneapolis

 

Why Amalgamated?

Block
$6 billion

in assets

B Corp

meeting high standards of social and environmental performance, accountability and transparency

98 years

helping those who do good, do better

Putting our mission into action

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Amalgamated Bank logo on glass
racial justice

Today, Amalgamated Bank announced its endorsement of HR 40, which is calling upon the Federal Government to form a Commission to explore reparations for African Americans. As of now, we are the first major U.S. bank to endorse HR 40, but are hopeful we are not the last.

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Pride flag
LGBTQ+ justice

Amalgamated Bank was founded almost 100 years ago to create a diverse, inclusive, and egalitarian community for labor workers. These tenets of our founding are elevated again today as we proudly announce that the Human Rights Campaign Corporate Equality Index (HRC CEI) has designated Amalgamated Bank “One of the Best Places to Work” in 2021.

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racial justice

Last week, Amalgamated Bank issued a public statement on our support for Black Lives Matter and promised that tangible actions would be forthcoming. I am sharing with you where we are now, just a little over a week later, and where I believe we can head in the future.