B Impact Report

Logo for Amalgamated Bank

Amalgamated Bank

Financial Services
Certified Since: January, 2017
Location: New York City, New York, United States
Sector: Service with Minor Environmental Footprint

Overall B Impact Scoreinfo_outline

87.3

The B Impact Scores are being compared against all businesses that have completed the B Impact Assessment

Amalgamated Bank has always been a different kind of bank. Founded in 1923 by the Amalgamated Clothing Workers of America, a textile union of mostly immigrants in New York City, Amalgamated Bank became the first financial institution for the working class in a time when banking solely benefited corporations and the wealthy. Amalgamated pioneered free savings accounts, free checking accounts, unsecured credit, affordable housing loans, and second chance bank accounts for those people who had credit problems in the past.

Since then, the bank has grown to serve those who help make the world more just, compassionate and sustainable. Their extensive experience, financial resources and community of like-minded customers offers labor unions, philanthropies, political campaigns, socially and environmentally responsible corporations, as well as individuals, a unique set of financial services enabling them to lead the charge to improve our communities and our country. It’s this commitment to working people and the organizations that support them that continues to set them apart from other banks.

Impact Area Scoresinfo_outline