American economy

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.

Until recently, “profitability” and “socially responsible” have been treated as mutually exclusive terms with many under the impression that dedicating resources to promoting positive change meant diverting those same resources away from turning a profit.

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Project includes installation of solar across 24 local affordable housing communities

Labor Day has lost its identity. What used to be a day that celebrated workers and their fight for shorter hours, higher pay and safer working conditions has become one that is spent rummaging through sales in big box stores where minimum wage employees are forced to work on the one day that was created to honor them.

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This morning, in response to the Mario Cuomo Campaign for Economic Justice’s Drive for $15, Keith Mestrich, President and CEO of Amalgamated Bank, said:

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Governor Cuomo, Local Business Leaders & Chambers of Commerce Urge New York State Legislature to Enact First-in-the-Nation $15 Minimum Wage. Proposal Would Benefit More than 2.3 Million New Yorkers; Boost Direct Spending Power by $15.7 Billion.

Join the Fight for Fair Pay – Visit www.ny.gov/Fightfor15 to Learn More

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Right now, despite many bank CEOs making tens of millions of dollars each year, the average bank teller makes just $25,800. Here in New York, 39 percent of bank tellers are forced to rely on public assistance programs just to make ends meet. This is morally wrong, yes, but it's also just bad business.

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This morning, in response to New York State’s budget agreement on the statewide $15/hr. minimum wage, Keith Mestrich, President and CEO of Amalgamated Bank, said:

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Keith Mestrich, President and CEO of Amalgamated Bank, released the following statement on Amalgamated’s joint letter urging Federal Housing Finance Agency Director Mel Watts to recapitalize Fannie Mae and Freddie Mac.

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New Poll of Progressive Voters Finds: Bank Values Matter; Strong Support for Local Banks; Optimism About Economy; Deep Concern on Income Inequality

Progressives Dislike Big Banks and Wall Street as much as Congress

Progressives Prefer San Francisco, Jimmy Fallon & Ben & Jerry’s “AmeriCone”