Workers' Rights

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 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 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
• 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