A man and woman working in the kitchen

Workers' Rights

We believe in the dignity of work, workers’ rights, and the power of collective bargaining

Who we are

  • Founded by the Amalgamated Clothing Workers of America and for nearly 100 years have been the bank for working people
  • Pioneered one of the first strike funds to provide worker’s money while exercising their collective rights, personal loans for union members, and the first free checking account in New York
  • Pioneered the financing for the first union-supported housing development in the US in 1927
  • The first bank in the nation to raise our hourly minimum wage to $15 and to $20
  • Issued more than $40,000 in fee waivers to help AFT and AFSCME in rapid response relief to their union members affected by hurricanes in Florida, Puerto Rico and the US Virgin Islands
  • Staunch advocates to protect the retirement security, health, and welfare benefits of working Americans

Where we stand

  • We will not lend money to companies and organizations that impede workers’ rights
  • We were the first union owned company to have a public offering and the union still is the largest shareholder

What we do

  • Participate in Home Financing Programs with the Service Employees International Union and the American Federation for Teachers to enable homeownership for more working people
  • 32% of Amalgamated Bank employees are unionized and covered by a collective bargaining agreement
  • We offer a defined pension plan to eligible employees

 

Why Amalgamated?

Block
100%

committed to renewable energy

98 years

of making a difference

B Corp

B Corp certifies our high standards of accountability and transparency

Putting our mission into action

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Man wearing mask
workers' rights

The light at the end of the pandemic tunnel has gotten a little brighter recently, especially as the number of U.S. COVID-related hospitalizations continues to dwindle and the number of fully vaccinated people in the country reaches nearly 40% of the population.1

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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.