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Amalgamated Bank


Overview / Commentary
www.amalgamatedbank.com
212-255-6200
275 Seventh Avenue
New York, NY 10001

Amalgamated Bank, founded in 1923 by the Amalgamated Clothing Workers of America, is a commercial bank chartered in New York with nationwide service. At Amalgamated Bank - America's Labor Bank - they work hard to make your life easier. For more than 80 years, they have provided working men and women, as well as unions, associations and businesses, with affordable banking services.

Related Posts

Amalgamated Bank Fee And Penalty Waivers - 3/23/2020

from an e-mail: As part of our relief efforts, beginning March 23 we will waive the following fees for 90 days: Insufficient funds fee (NSF) — returned item fee charged for insufficient or uncollected funds*, $34.00†1 Overdraft item paid — fee charged for paid item against insufficient or uncollected funds* (not applicable to Online Checking account), $34.00 Certificate of Deposit (CD) Early Withdrawal Penalties2 * The fee applies to a maximum of five (5) items (paid or returned) per day, per account. † $25.00 for accounts opened in the San Francisco office. 1 $10.00 fee for the checking product named “Online Checking.” 2 CD Early Withdrawal Penalties cannot be waived for CDs that are withdrawn less than seven (7) days after opening of such CD. In addition to sending out the e-mail, Amalgamated has posted on its website "Amalgamated Bank supports federal relief for working families affected by COVID-19". This is a list of measures to directly provide help to people (and some r

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Reviews (2)

Pretty Good Choice For A Main Bank

Posted by: |

I've used Amalgamated's online banking services (Give-back checking and Online Savings) for over a year now. I chose them as my main bank since there are local branches where I can go in in case something goes wrong or for certain things (e.g., I recently had to go in to add a beneficiary). I'm all about online banking, but I do prefer something with a physical presence for my main bank.

Their online rates are okay, but far from top-notch. Their online experience is also okay but not great -- they use iBanking stuff like a lot smaller banks do, which has an ugly UI but is pretty reliable and gets the job done. Their customer service has been great when I needed it. And they're also a pretty ethical bank which is important to me.

I do have other online savings account that give higher interest rates. But, overall, I've been quite happy with using Amalgamated as my primary bank for over a year now.

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Online Interest Rates Dropped To 0.30%

Posted by: |

online interest rates dropped to 0.30%

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Health
A

Data as of Q4 2019

Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #622
Year Established1923
Employees384
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.95%
Return on Equity - YTD10.06%
Annual Interest Income$186.0MM
Assets and Liabilities
AssetsQ4 2019vs Q4 2018$5.32B$4.69B
LoansQ4 2019vs Q4 2018$3.44B$3.21B
DepositsQ4 2019vs Q4 2018$4.64B$4.11B
Equity CapitalQ4 2019vs Q4 2018$490.4MM$439.2MM
Loan Loss AllowanceQ4 2019vs Q4 2018$33.8MM$37.2MM
Unbacked Noncurrent LoansQ4 2019vs Q4 2018$31.5MM$23.9MM
Real Estate OwnedQ4 2019vs Q4 2018$809.00K$844.00K
  User-submitted Promotions & Notices

This section lists recent deals, promotions and rate changes submitted by our community within the past 90 days. Always verify official rates and promotions with the bank or credit union.

Amalgamated Bank Fee And Penalty Waivers

  |  
from an e-mail:

As part of our relief efforts, beginning March 23 we will waive the following fees for 90 days:

Insufficient funds fee (NSF) — returned item fee charged for insufficient or uncollected funds*, $34.00†1
Overdraft item paid — fee charged for paid item against insufficient or uncollected funds* (not applicable to Online Checking account), $34.00
Certificate of Deposit (CD) Early Withdrawal Penalties2

* The fee applies to a maximum of five (5) items (paid or returned) per day, per account.
† $25.00 for accounts opened in the San Francisco office.
1 $10.00 fee for the checking product named “Online Checking.”
2 CD Early Withdrawal Penalties cannot be waived for CDs that are withdrawn less than seven (7) days after opening of such CD.

In addition to sending out the e-mail, Amalgamated has posted on its website "Amalgamated Bank supports federal relief for working families affected by COVID-19". This is a list of measures to directly provide help to people (and some relief to small businesses and non-profits), not to banks and large corporations.

https://www.amalgamatedbank.com/blog/amalgamated-bank-supports-federal-relief-for-working-families-a...
2

Rates
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Always verify rates and promotions with the bank or credit union. We are not Amalgamated Bank; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Amalgamated Bank Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.40%--Online Savings
0.30%--Give-Back Savings Account (Online Only)
0.10%--The Club Account
0.10%$10-Variable IRA
0.05%*$100*-Convenience Savings
OTHER TIERS: 0.01% → Up to $100

Amalgamated Bank Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.15%*$50k*-Money Market
OTHER TIERS: 0.05% → Up to $25k | 0.10% → $25k - $50k

Amalgamated Bank Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.20%*$2.5k*-Online Checking
OTHER TIERS: 0.10% → Up to $2.5k
0.15%*$2.5k*-Give-Back Checking
OTHER TIERS: 0.10% → Up to $2.5k
0.05%*$500*-Convenience+ Checking
OTHER TIERS: 0.01% → Up to $500

Amalgamated Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.45%$500$250k5 Year CD (In Branch Only)
0.40%$500$250k3 Year CD (In Branch Only)
0.35%$500$250k2 Year CD (In Branch Only)
0.30%$500$250k1 Year CD (In Branch Only)
0.10%$500$250k6 Month CD (In Branch Only)

Amalgamated Bank IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.40%$500$250k3 Year IRA (In Branch Only)
0.35%$500$250k2 Year IRA (In Branch Only)
0.30%$500$250k1 Year IRA (In Branch Only)
0.15%$500$250k6 Month IRA (In Branch Only)
0.10%$500$250k3 Month IRA (In Branch Only)
Locations

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The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.