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.
Go Green Banks!
Love that they're eco friendly and actually care for our tiny little planet :)
Eco Friendly, And Super Friendly Service!
Love going into this bank to deal with all sorts of bank stuff. All the staff are super nice and really helpful! Plus, how often do you find a bank that cares for the environment? Love this bank.
The Worst Bank Experience I Have Ever Had
I am so disappointed by Amalgamated commercial banking and the amount of time I have lost in choosing to bank with them.
First the customer service is terrible. Every time I call I spend an average of 40min to an hour on hold. The process of setting up the account took several weeks (where as an account at my other bank took only a few days) and I had to constantly follow up with the rep who was "assisting me" in setting up the account. At times I left multiple emails and messages saying things like " I have not heard from you in a week, what is happening with my account opening". They mailed my debit card to the wrong address. I've been waiting for my checks in the mail for over a month to which the agent said she forgot to order them. The web and mobile banking is cumbersome with codes assigned to login in that are difficult to remember and and archaic web design. I was trying to support a smaller local bank that seemed to have a good social impact, but I am really regretting choosing Amalgamated and as soon as I have free time will take the time to close this account and open with another bank.I strongly suggest you do not do commercial banking with them.
Data as of Q4 2024
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 622 |
| Year Established | 1923 |
| Employees | 433 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.32% |
| Return on Equity - YTD | 15.8% |
| Annual Interest Income | $401.3MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2024vs Q4 2023 | $8.26B$8.01B |
| Loans | Q4 2024vs Q4 2023 | $4.65B$4.35B |
| Deposits | Q4 2024vs Q4 2023 | $7.23B$7.08B |
| Equity Capital | Q4 2024vs Q4 2023 | $721.9MM$620.4MM |
| Loan Loss Allowance | Q4 2024vs Q4 2023 | $60.1MM$65.7MM |
| Unbacked Noncurrent Loans | Q4 2024vs Q4 2023 | $30.3MM$34.2MM |
| Real Estate Owned | Q4 2024vs Q4 2023 | $0$0 |