Amalgamated Bank Launches Frontline Workers Fund to Support Responders to COVID-19 Pandemic

NEW YORK, April 01, 2020 (GLOBE NEWSWIRE) -- Amalgamated Bank (Nasdaq: AMAL) today announced the launch of the , designed to provide financial support for workers on the frontlines of the COVID-19 pandemic, including nurses and health care workers, grocery workers, cleaning service workers, food service workers, laundry workers in hospitals, and retail workers, amongst others.

Resources will go to support:

• Charitable funds initiated by labor unions to provide health benefits and childcare for workers who have lost their jobs
• National and local organizations providing personal protective equipment (PPE) to nurses and other frontline workers
• Domestic workers who are forced into quarantine or need extended paid leave
• Access to testing for nurses and other frontline workers

Keith Mestrich, CEO of Amalgamated Bank, commented: “For almost a century, Amalgamated Bank has supported workers through difficult periods from the Great Depression through the Global Financial Crisis. Today is no different. The workers on the frontlines of the COVID-19 pandemic – healthcare providers, food service workers, retail and distribution workers, cleaners and more – are truly the best among us. The Bank is proud to support these heroes and their families, as they support us through this unprecedented time.”

Anna Fink, Executive Director of the Amalgamated Foundation, which will oversee the Fund, and receive and disperse the Fund’s donations, said: “At Amalgamated we are driven by our values and commitment to advance the common good. That is true in these challenging times more so than ever. We are deeply grateful to the workers who are helping to keep our communities safe and healthy, and are proud to be able to support them through the launch of the Frontline Workers Fund.”

Amalgamated Bank has made an initial contribution of $50,000 to stand up the Fund. In addition, it has established a special program under which it will donate .10 cents to the Fund each time a customer opens a new account or spends over ten dollars on their Amalgamated Bank debit card. The Fund will work to align and coordinate activities with fellow funders and other rapid response efforts in order to fill gaps.

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About Amalgamated Bank

For nearly a century, Amalgamated Bank has served as America’s socially responsible bank, supporting forward-thinking organizations, companies, and individuals across the country. We are an advocate for those working to make the world more just, compassionate and sustainable. Our extensive experience, financial knowledge and community of like-minded customers offer a unique set of financial tools to customers. Amalgamated is the country’s largest B Corp® bank and a proud member of the Global Alliance for Banking on Values. We don’t just have a mission. We are on a mission: to support those who support others, to invest in progressive and impactful causes and to advocate true financial opportunity for all.

Media Contact:

Kaye Verville

The Levinson Group



202-244-1785

Source: Amalgamated Bank