Amalgamated Bank Announces New Climate Impact Debit Mastercard®

(New York, NY; Washington, DC) March 31, 2022- Amalgamated Bank, a subsidiary of Amalgamated Financial Corp. (NASDAQ: AMAL) and a mission-driven, full-service commercial bank that empowers organizations and individuals to advance positive social and environmental change, announced today the launch of its new Climate Impact Debit Mastercard. Made from renewable resources such as corn, the new card replaces up to 80% of fossil-based plastics found in traditional debit cards.

“Amalgamated Bank is putting our clients’ money to work every day to take on affordable housing, racial inequality and the climate crisis. We are proud of the fact that one in three of our dollars being put to work is being done for climate solutions like clean energy and energy efficiency,” said Ivan Frishberg, Chief Sustainability Officer, Amalgamated Bank. “The new Climate Impact Debit Mastercard is now a physical reminder of the difference our clients are making with the bank they have chosen, and a reminder that we can all do our part to build a more just and sustainable economy.”

As a fossil-free bank, the new Climate Impact Debit Mastercard represents an exciting step forward for Amalgamated’s commitment to curbing the climate crisis through our mission-aligned products, services and policies.  No action is required on the part of current customers, who will receive the card as a replacement to expired cards. Customers can also contact their local branch or contact the Amalgamated Bank customer service team to get their new Climate Impact card.

About Amalgamated Bank

Amalgamated Bank (“Amalgamated” or the “Bank”), the wholly owned banking subsidiary of Amalgamated Financial Corp. (Nasdaq: AMAL), is a mission-driven New York-based full-service commercial bank and a chartered trust company. Amalgamated Bank provides commercial banking and trust services nationally and offers a full range of products and services to both commercial and retail customers. Since our founding in 1923, Amalgamated Bank has served as America’s socially responsible bank, empowering organizations and individuals to advance positive social change. Amalgamated Bank advocates alongside those working to make the world more just, compassionate, and sustainable. Amalgamated Bank is the country’s largest B Corp® bank and a proud member of the Global Alliance for Banking on Values. We don’t just have a mission, we are on a mission to advance economic, social, racial and environmental justice utilizing the tools of finance. For more information, please visit our website at www.amalgamatedbank.com.

Cautionary Note Regarding Forward-Looking Statements

Some of the statements in this press release are ‘‘forward-looking statements’’ within the meaning of the federal securities laws. Words and phrases such as “expect,” “plan,” “believe,” “continue,” “committed,” “will,” and variations of such words or similar expressions are intended to identify such forward-looking statements. Forward looking statements are not guarantees of future performance and are subject to risks, uncertainties and assumptions (“risk factors”) that are difficult to predict with regard to timing, extent, likelihood and degree of occurrence. Therefore, actual results and outcomes may materially differ from what may be expressed or forecasted in such forward-looking statements. We assume no duty to update, amend or clarify forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Risks factors include, without limitation, adverse effects on the market price of our shares and on our operating results because of our inability to timely complete, if ever, the environmental goals described in this release; our ability to fully realize the general economic and business conditions that may affect us in connection with completing environmental goals; unanticipated expenses such as litigation or legal settlement expenses; changes in capital market conditions and the impact of the completion of the environmental goals on our employees, customers and suppliers. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. The inclusion of such statements should not be regarded as a representation that such plans, estimates, expectations or goals will be achieved. Additional factors that could cause our results to differ materially from those described in the forward-looking statements can be found in our reports (such as Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-k) filed with the Securities and Exchange Commission (“SEC”), and which are accessible on the SEC’s website at www.sec.gov. The foregoing list of important factors is not exclusive.

Media Contact:

Hudson Munoz
Amalgamated Bank
HudsonMunoz@amalgamatedbank.com