Amalgamated Bank

Highlights from COP29 Azerbaijan 14 November - #MoveTheMoney to Fossil Free Banks The International Energy Agency, IEA, calculates that investments in clean energy need to triple to $4.5 trillion annually by 2030. We have this money, but we are currently investing it in problems instead of solutions. The world spent $7 trillion subsidizing fossil fuels in 2022 alone. At the same time, pension funds and other institutional investors hold investments in fossil fuels totaling $3.03 trillion. How can we shift these investments from supporting problems to financing solutions in time and at scale? How can banks and other financial institutions rid themselves of oil, coal and gas and offer fossil-free banking? This session builds on the impactful global Move the Money campaign, launched by We Don’t Have Time together with the United Nations Development Programme, UNDP, Exponential Roadmap Initiative, and the Fossil Fuel Non-Proliferation Treaty. Speakers: Ivan Frishberg, Chief Sustainability Officer, Amalgamated Bank Jacco Minnaar, Chief Commercial Officer, Triodos Bank Anderson Lee, Research Associate, World Resources Institute Eriel Tchekwie Deranger, Executive Director, Indigenous Climate Action Organizers: We Don't Have Time Global Alliance for Banking on Values Watch the full session here: https://lnkd.in/ddSft9v2 or Follow all sessions on: https://lnkd.in/d3FncYpG

We Don't Have Time strives to be part of the solution to the climate crisis. They believe that one of the most critical climate actions is communication and that everyone needs to act on the climate crisis and be transparent about their climate actions. No one is perfect, but everyone can strive for continuous improvement. The Fossil Fuel Non-Proliferation Treaty?(FFNPT)?Initiative is a global effort to foster international cooperation to accelerate a transition to renewable energy for everyone and end the expansion of coal, oil, and gas. We're proud to endorse and join the call for the FFNPT and ask others in the financial industry to join us in ultimately phasing out existing production in keeping with what science shows is needed to address the climate crisis. To read more about this Treaty?https://lnkd.in/dMwSx3b5

As a union founded bank, we believe that our employees are our greatest asset and that investing in their wellbeing is essential. Our commitment to our employees through employee development programs, career advancement opportunities and internal engagement programs such as our ERG’s are just some of the ways we showcase our values for them. Together, we’re building a brighter future for ourselves and our community. We are excited to continue to support our employee's well-being and look forward to continuing to connect our NYC, Boston, DC, and San Francisco offices through various programming. To read more about our People Impact as part of our 2023 CSR report, please visit https://lnkd.in/eCmaBwbq

We are excited to announce that Marcanthony Gabriele has joined Amalgamated Bank as the new Director of Operations. He will focus on developing strategies and processes to enhance scalability and efficiency in daily operations. With over 20 years of experience in the financial services and manufacturing sectors, Marcanthony has a strong track record of leading cross-functional teams. Previously, he was the Digital and Innovation Director at AXIS Capital, where he drove digital transformation initiatives in the US and UK. Before that, he spent 13 years at AXA US, most recently as Senior Director of Strategic Projects and Operations in Wealth Management. Marcanthony holds a Bachelor of Science in Mechanical Engineering from Youngstown State University, an MBA from Baldwin Wallace University, and a Master of Science in Aerospace Studies from the University of North Dakota.?? Join us in welcoming Marcanthony to the team!

This #BankingonValues Day, we invite you to read more on how values-based banking delivers positive impact for millions of people, transforming their lives, in six key areas. Values-based banks are crucial in urgently transforming a fair, resilient, green, and inclusive banking system. Global Alliance for Banking on Values represents a movement of leading sustainable banks pioneering the most innovative approaches to creating positive impact across the financial system and we’re proud to be a part of the #GABV. As a values-based bank, we support sustainable organizations, progressive causes, and social justice. We are committed to environmental and social responsibility by providing affordable access to the banking system, lending to green projects, supporting immigrants, and?affordable housing to drive the urgent transformation towards a fair, resilient, greener, and inclusive economy. Visit https://lnkd.in/dYyG55VM for more information.

Our Chief Strategy and Administrative Officer, Edgar Romney, recently shared his insights on the numerous opportunities to collaborate with Minority Depository Institutions (MDIs) during a panel discussion at the #SOCAP2024 conference. He was joined by fellow panelists John Balbach from the MacArthur Foundation and Christopher White from the National Bankers Association Foundation. The session, titled "Scaling Racial Equity and Climate Finance: The Opportunity of the MDI Sector," was moderated by Katie Macc, CEO of the Sorenson Impact Institute, and created necessary conversations towards building an equitable financial future for all. Thank you to all who participated in this panel, and a special thank you to SOCAP Global for creating this conference where we can become more innovative, uplift our community, and amplify the solutions we all need to build a brighter tomorrow.

Our 2023 ESG report is out, and the First Vice President of Sustainability, Lyndsay Noelle Fritz, shares how excited we are about the results, the highlights to look forward to over the next few days, and our vision for a more sustainable, inclusive future. You’ll see how we redefine success in our Business Impact, lead the charge on sustainability in our Climate Impact, and invest in our employee well-being in our People Impact. We’re proud of our results and look forward to continuing our mission to drive meaningful change! To read the full report, please visit https://lnkd.in/eCmaBwbq

Earlier this month, Sustainability Magazine named us one of the Top 10 B Corp companies in the U.S. for our ongoing commitment to using finance to promote positive social and environmental change. Our sustainability strategy focuses on climate finance, workers' rights, and social justice. By 2045, we aim to achieve our net-zero emissions goal because immediate climate action is imperative for a sustainable, greener future. To read more, visit https://lnkd.in/d-q6ePNc

We are thrilled to welcome Leanne Ocampo, CA, as our new Chief Audit Executive. In this role, Leanne will oversee our internal audit business, processes, and procedures to support the Bank’s growth plans. Leanne has 17 years of experience in audit and compliance across the banking and capital markets sectors in the U.S., U.K., and Australia. Previously, she was the Director of Global Compliance Monitoring and Testing at Citibank and the Head of U.S. Compliance Audit at Scotiabank. She holds a bachelor’s degree in commerce, majoring in accounting and finance, from Monash University and is a qualified chartered accountant. Please join us in welcoming Leanne to the team!

As the year begins to wind down, we are excited to share our Q3 financial report, which continues to show promising growth across our financial ratios. Net Income increased by 6.8%, totaling $28.0M; our?Total Deposits increased by 2.7%, totaling $7.5B, and our Net Interest Margin was 3.51%. “Our third quarter financial results continue to demonstrate that Amalgamated remains positioned to achieve sustainable earnings and profitability.??During the quarter, we delivered outstanding deposit and loan growth, strong profitability and returns, and a growing capital base that positions us to invest in our strategic initiatives which will sustain our growth into the future.” - Priscilla Sims Brown, President and Chief Executive Officer. We’re looking forward to ending the year as strong as we started. To view the full report, please visit https://lnkd.in/eyKyacny