Workers' Rights
Workers' Rights
All workers should be assured fair, equitable, and healthy work conditions, and have the right to collective bargaining.
Our voice
- 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
Our money
- 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
Our practices
- 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
Our legacy
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.
Why Amalgamated?
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100%
committed to renewable energy
99 years
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Putting our mission into action
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workers' rights
The light at the end of the pandemic tunnel has gotten a little brighter recently, especially as the number of U.S. COVID-related hospitalizations continues to dwindle and the number of fully vaccinated people in the country reaches nearly 40% of the population.1
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racial justice
Today, Amalgamated Bank announced its endorsement of HR 40, which is calling upon the Federal Government to form a Commission to explore reparations for African Americans. As of now, we are the first major U.S. bank to endorse HR 40, but are hopeful we are not the last.
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LGBTQ+ justice
Amalgamated Bank was founded almost 100 years ago to create a diverse, inclusive, and egalitarian community for labor workers. These tenets of our founding are elevated again today as we proudly announce that the Human Rights Campaign Corporate Equality Index (HRC CEI) has designated Amalgamated Bank “One of the Best Places to Work” in 2021.