All workers should be assured fair, equitable, and healthy work conditions, and have the right to collective bargaining.
- We were the first union owned company to have a public offering and the union, Workers United, an affiliate of SEIU, is still the largest shareholder
- Staunch advocates to protect the retirement security, health, and welfare benefits of workers in the U.S.
- Supporters of the PRO Act to protect the rights of workers to join unions
- First U.S. bank to raise its minimum wage to $15 per hour (2015) and then $20 per hour (2019)
- Approximately a third of Amalgamated Bank employees are unionized and covered by a collective bargaining agreement
- We offer a defined pension plan to eligible employees
- Strongly prioritized union labor for vendor relationships and maintain a Supplier Code of Conduct and Freedom Association policy that supports worker’s right to collective bargaining
- Pioneered one of the first strike funds to provide workers 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 U.S. in 1927
- We do not lend money to companies and organizations that impede workers’ rights
- Launched the Frontline Workers’ Fund in 2020 to provide support and additional funding to essential and frontline workers and their families during the COVID-19 pandemic
- We participate in Home Financing Programs with the Service Employees International Union and the American Federation for Teachers to enable homeownership for more working people
- We invest in workers’ rights through organizations like the Action Center on Race and the Economy, Workers Defense Project, Equal Rights Advocates, and the Powershift Network
Founded by the Amalgamated Clothing Workers of America nearly 100 years ago, Amalgamated Bank is considered the bank for the working people and the union remains our largest shareholder. We were the first bank to develop strike funds that support workers who fought poor working conditions.