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.
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.
online interest rates dropped to 0.30%
Overall | |
---|---|
FDIC Certificate # | 622 |
Year Established | 1923 |
Employees | 347 |
Primary Regulator | FDIC |
Profit Margin | |
---|---|
Return on Assets - YTD | 0.77% |
Return on Equity - YTD | 9.15% |
Annual Interest Income | $190.5MM |
Assets and Liabilities | ||
---|---|---|
Assets | Q4 2020vs Q4 2019 | $5.98B$5.32B |
Loans | Q4 2020vs Q4 2019 | $3.46B$3.44B |
Deposits | Q4 2020vs Q4 2019 | $5.34B$4.64B |
Equity Capital | Q4 2020vs Q4 2019 | $535.7MM$490.4MM |
Loan Loss Allowance | Q4 2020vs Q4 2019 | $41.6MM$33.8MM |
Unbacked Noncurrent Loans | Q4 2020vs Q4 2019 | $62.3MM$31.5MM |
Real Estate Owned | Q4 2020vs Q4 2019 | $307.00K$809.00K |
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.
APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
---|---|---|---|---|---|
0.15%* | $50k* | - | Money Market | ||
OTHER TIERS: 0.05% → Up to $25k | 0.10% → $25k - $50k |
Amalgamated Bank Locations | ||
---|---|---|
Union Square Branch | 10 East 14th Street | New York, NY 10003 |
Fulton Street Branch | 1212 Fulton Street | Brooklyn, NY 11216 |
1825 K Street Branch | 1825 K Street, N.W. | Washington, DC 20006 |
Bartow Avenue Branch | 2067 Bartow Avenue | Bronx, NY 10475 |
Amalgamated Bank | 275 7th Ave | New York, NY 10001 |
Long Island City Branch | 36-16 21st Street | Astoria, NY 11106 |
Sunset Park Branch | 4502 Fifth Avenue | Brooklyn, NY 11220 |
Roosevelt Island Branch | 619 Main Street | New York, NY 10044 |