Amalgamated Bank

Overview / Commentary
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.

Reviews (5)

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.

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.

The Worst Bank Experience I Have Ever Had

Posted by: |

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.

Online Interest Rates Dropped To 0.30%

Posted by: |

online interest rates dropped to 0.30%


Health Grade Components

FDIC Certificate #622
Year Established1923
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.39%
Return on Equity - YTD17.54%
Annual Interest Income$96.9MM
Assets and Liabilities
AssetsQ1 2024vs Q1 2023$8.15B$7.85B
LoansQ1 2024vs Q1 2023$4.36B$4.14B
DepositsQ1 2024vs Q1 2023$7.35B$7.07B
Equity CapitalQ1 2024vs Q1 2023$656.6MM$581.8MM
Loan Loss AllowanceQ1 2024vs Q1 2023$64.4MM$67.3MM
Unbacked Noncurrent LoansQ1 2024vs Q1 2023$34MM$36.9MM
Real Estate OwnedQ1 2024vs Q1 2023$0$0
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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

2.75%$0-Online Savings Special (First 6 Month)
1.76%*$100*-Convenience Savings
OTHER TIERS: 0.81% $0 - $100
1.41%$10-Variable IRA
1.11%$0-Give-Back Savings Account (Online Only)
0.55%$0-The Club Account

Amalgamated Bank Money Market Rates

3.75%$0-Business Money Market - First 9 Month Promo
2.50%*$100k*-Money Market
OTHER TIERS: 1.00% $0 - $25k | 1.41% $25k - $50k | 2.12% $50k - $100k

Amalgamated Bank Checking Account Rates

1.06%*$2.5k*-Online Checking
OTHER TIERS: 0.95% $0 - $2.5k
1.00%*$1k*-Convenience+ Checking
OTHER TIERS: 0.76% $0 - $500 | 0.80% $500 - $1k
0.95%*$2.5k*-Give-Back Checking (Online Only)
OTHER TIERS: 0.90% $0 - $2.5k

Amalgamated Bank CD Rates

5.05%$500$250k7 Month Promotional CD - New Money
4.25%$500$250k1 Year CD
3.79%$500$250k6 Month CD
3.30%$500$250k2 Year CD
3.20%$500$250k3 Year CD
3.20%$500$250k5 Year CD

Amalgamated Bank IRA Rates

3.82%$500$250k6 Month IRA (In Branch Only)
3.82%$500$250k1 Year IRA (In Branch Only)
3.56%$500$250k7 Month Promotional IRA (In Branch Only) - New Money
3.35%$500$250k2 Year IRA (In Branch Only)
3.25%$500$250k3 Year IRA (In Branch Only)
1.46%$500$250k3 Month IRA (In Branch Only)

Amalgamated Bank Locations
Union Square Branch10 East 14th StreetNew York, NY 10003
Fulton Street Branch1212 Fulton StreetBrooklyn, NY 11216
1825 K Street Branch1825 K St NwWashington, DC 20006
Bartow Avenue Branch2067 Bartow AvenueBronx, NY 10475
Amalgamated Bank275 7th AveNew York, NY 10001

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