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Amalgamated Bank Creates "Restart Checking" Program to Help Serve Those Previously Denied Banking
February 16, 2016

Amalgamated Bank Creates "Restart Checking" Program to Help Serve Those Previously Denied Banking

We take banking access very seriously, as we believe we have a moral obligation to help all of our customers, especially those who have historically been denied service.

Keith Mestrich, President & CEO, Amalgamated Bank

NEW YORK – Today, Amalgamated Bank, the leading national progressive bank, announced the creation of their new “Restart Checking" Program and launched a new Metropolitan Transportation Authority (MTA) advertisement campaign.  The campaign, which will run through March 27, will promote the bank’s platform of creating financial opportunity for all people, regardless of financial history. Specifically, “Restart Checking” will seek to serve people who have been denied checking accounts by other financial institutions due to credit problems such as failure to pay overdraft fees on previous accounts.

“We take banking access very seriously, as we believe we have a moral obligation to help all of our customers, especially those who have historically been denied service,” said Keith Mestrich, President and CEO of Amalgamated Bank. “Programs like Restart Checking accounts can make a real difference in people’s lives by helping them gain access to capital and finally reach financial security. The Restart Checking program is just one way we are seeking to engage and support those individuals who for too long have been shunted aside by our society.”

The inclusionary messaging of the advertisements is consistent with Amalgamated Bank’s commitment to support organizations fighting for social and economic justice. The advertisement reads, “We believe banks can be a force for good, creating financial opportunity for all people.” These ads are Amalgamated’s first with the MTA since last fall when the MTA decided to remove their #RaiseTheWage advertising because they were deemed “too political.”

With 30% of branches located in underserved communities, Amalgamated has a nearly century old tradition of supporting customers without access to mainstream banking services, including accepting IDNYC, offering free checking, and having no minimum deposit to open a checking account. Restart Checking, a new service being offered by the bank, is designed to offer those who seek banking services but have been turned away from other banks a fresh start.

About Amalgamated Bank
For nearly a century, Amalgamated Bank has been a financial institution with a purpose: affordable and accessible banking for all. Offering customers nationwide the products and services of a major financial institution, Amalgamated is committed to the values on which it was founded. We proudly advocate for workers’ rights and promote the highest standards of environmental, social and corporate governance practices, which is why we are the first choice of progressive organizations and people – from presidential campaigns and labor unions to individuals who want a bank that believes everyone should be able to participate fully in our economy. We serve our communities with the core principle that the real currency of banking isn’t dollars – it’s trust.