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In 1942, Adolph Held, President of the bank as well as chairman of the Jewish Labor Committee, joined a small delegation of American Jewish leaders and met with President Franklin Delano Roosevelt to appeal for immediate action to combat the extermination of the Jews.
Amalgamated later became the bank for the Special Labor Aid Project which supported elderly Jewish cultural figures in Poland and Israel.
Amalgamated’s Housing Loan program was started in 1992 as a way to provide a source of affordable financing to residential housing developments that serve moderate and middle-income residents.
The program has been a great success and has provided over 0 million in unsecured loans for capital improvements.
See our timeline Amalgamated Bank established headquarters at 15 Union Square in New York City.
From its inception, the bank has demonstrated its commitment to the needs of working people.
Please update your browser to the latest version of Firefox, Google Chrome, Internet Explorer, or Safari as soon as possible.In 1924, it introduced the first unsecured personal loans for working families — with the main requirement being that a borrower have steady employment and earn enough to be able to repay the loan in modest installments.In time, virtually every bank in the nation adopted this innovation.For more information about the browser versions that will be supported after March 31, 2016 as well as a list of frequently asked questions, please click here, or call us at (800) 662-0860.Founded in 1923 by the Amalgamated Clothing Workers of America (ACWA), Amalgamated Bank was New York City’s first labor bank.
In 2007, the bank moved into new corporate offices at 275 Seventh Avenue.