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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

97 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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corporate and social responsibility

Amalgamated Bank works hard every day to support the most powerful change makers in America. We have the honor of standing with thousands of leaders of social change – nonprofits, foundations, labor unions, and more - as they take on complex, deeply rooted issues affecting hundreds of millions of lives.

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photo of $20 bills and a person on a calculator
Amalgamated Bank history

Today, I am proud to announce that we are the first bank in the United States to increase our minimum wage to $20 an hour for all full-time employees. By raising our minimum wage, we are continuing to honor our roots in the labor movement and to do our part in creating greater access and opportunity for our workers and their families.

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corporate and social responsibility

In strong job markets, such as the one we’re experiencing now, employers face the reality of a potentially fleeting workforce. An abundance of jobs, paired with the rise of transferable skills and the newfound mobility that workers enjoy, leaves companies with the task of continuously coming up with new and innovative ways to keep talent.