Economic Justice
Economic Justice
A truly just, resilient economy is one that centers the voice of workers, prioritizes sustainability, and where more resources are democratically controlled. A reformative systemic approach is needed to overcome the economic harm of slavery, land extraction, and marginalization of minority communities to realize an economy where everyone can thrive in harmony with our planet.
Our voice:
- Supports the Inflation Reduction Act
- First bank to participate in affordable housing in NYC, advocate for tax credits to do so, and support affordable housing subsidies
- Vocal advocate for workers’ rights, collective bargaining, and fair working conditions
- Open support of the advancement of increasing taxes on the wealthiest Americans
- Participate in shareholder activism, including proposals to eliminate slave labor in supply chains
- Support HR40 to form a Commission to explore reparations
- Endorse banking reform and consumer protection measures such as the Dodd-Frank Act
- Explore steps to achieve racial and economic justice for Black Americans
- Strong champion of expanding paid family leave
Our money:
- We do not lend to extractive industries such as pay day lenders
- We contribute and lend to affordable and equitable housing programs
- Lend to new economy initiatives, such as the The Working World’s Seed Commons to support cooperative owned businesses
- Lent over $95M in 2020 to community empowerment strategies that support new economy models and nonprofits that advocate for economic justice policies
- Lent over $100M to community development financial institutions to support greater access to capital for underinvested communities
Our legacy:
As a bank founded by a union of garment workers, Amalgamated Bank knows that profit can too often come from exploitation and extraction. Amalgamated is the largest B Corporation certified bank and first public benefit bank holding company in the United States and is committed to transforming financial and economic systems to center people, planet, and prosperity.
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Why Amalgamated?
Block
$7.7 billion
in assets
100%
committed to renewable energy
$1.5MM+
donations to progressive causes and nonprofits
Putting our mission into action
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racial justice
Today, Amalgamated Bank announced its endorsement of HR 40, which is calling upon the Federal Government to form a Commission to explore reparations for African Americans. As of now, we are the first major U.S. bank to endorse HR 40, but are hopeful we are not the last.
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LGBTQ+ justice
Amalgamated Bank was founded almost 100 years ago to create a diverse, inclusive, and egalitarian community for labor workers. These tenets of our founding are elevated again today as we proudly announce that the Human Rights Campaign Corporate Equality Index (HRC CEI) has designated Amalgamated Bank “One of the Best Places to Work” in 2021.
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racial justice
Last week, Amalgamated Bank issued a public statement on our support for Black Lives Matter and promised that tangible actions would be forthcoming. I am sharing with you where we are now, just a little over a week later, and where I believe we can head in the future.