No stored Google rating available.
FDIC-insured bank offering checking, savings, CDs, and business accounts with a focus on socially responsible and impact-driven lending to renewable energy and nonprofit sectors.
Data compiled from public sources
Amalgamated Bank is a mission-driven financial institution with 102 years of history in socially responsible banking. Founded on the principle of aligning customer deposits with positive social change, the bank positions itself as America's socially responsible bank committed to empowering individuals and organizations to drive positive social change. 9 billion in assets and operates physical branches alongside digital banking infrastructure.
03% APY), Money Market Accounts, and business checking with treasury management features. All deposits are FDIC-insured up to applicable limits. Customers can manage accounts through a mobile app supporting check deposits, bill payments, Zelle transfers, and ATM/branch location discovery.
Customer service is available via phone at 800-662-0860. Amalgamated Bank distinguishes itself through explicit impact-driven lending commitments rather than traditional banking focus. 7 million retroactive C-PACE deal in Nashville.
The bank maintains 100% commitment to renewable energy financing, representing a clear sustainability-first business model unusual among traditional banks. The bank is best suited for values-aligned consumers and businesses seeking banking services that demonstrably fund social and environmental initiatives. 30% APY) are significantly below market rates at online banks and credit unions.
The primary caveat is that mission-alignment comes with opportunity cost on returns, and customers must accept below-market rates as the trade-off for impact-driven lending practices.
This is state-level context for Banks consumers in New York, NY. It does not confirm that Amalgamated Bank or this specific location is licensed.
State regulator
New York Department of Financial Services
Consumer protection
Source: CreditDoc state-law summary and listed public regulator resources. Verify licensing directly with the listed state regulator before relying on a provider.
Amalgamated Bank processed 322 mortgage applications in 2023, with 92.2% recorded as approved across 26 states.
322
Applications
92.2%
Approval Rate
$1.2M
Avg Loan
26
States Served
Based on 322 applications. Income in thousands (reported by applicant).
Source: CFPB Home Mortgage Disclosure Act (HMDA) Data, 2023. Applications include originated, approved, and denied loans.
Amalgamated Bank offers 12 services including Personal checking account (Maximum Impact Checking™) with interest earnings and no monthly maintenance fees, 7-Month Certificate of Deposit with guaranteed fixed rates (4.03% APY advertised), Commercial Money Market Account with tiered interest rates based on balance, Small business checking (Amalgamated Business Checking Plus) with treasury management tools, Mobile banking app with check deposit, bill pay, Zelle, and ATM/branch location finding, and 7 more.
Amalgamated Bank has profile signals associated with Values-aligned consumers and businesses willing to accept below-market interest rates in exchange for socially responsible lending practices, Nonprofit organizations and social enterprises seeking a banking partner committed to impact funding, Customers prioritizing renewable energy and environmental financing over maximum returns, Individuals seeking FDIC-insured accounts with zero monthly fees and no commitment to high APY.
Key strengths: FDIC insurance on all deposits up to $250,000 per account title, with higher coverage available for multiple account types; Zero monthly maintenance fees on Maximum Impact Checking with qualified direct deposit ($10 if no direct deposit); listed impact reporting with specific, verifiable lending commitments ($5M to Finanta, $250M to FASTPACE, $25M to Redball Energy). Areas to consider: Interest rates are significantly below-market: 0.10-0.30% APY on checking vs. 4-5% offered by online banks; 4.03% CD rate is middle-tier at best; Union Square branch closing April 28, 2026, requiring relocation to new address (may indicate branch consolidation trend).
In the Banks category, comparable providers include Cathay Bank, George Dimov CPA, ICICI Bank New York Branch. Each company has different strengths, so compare services, pricing, and consumer complaint records before deciding what to do next.
CreditDoc Profile Note
Amalgamated Bank is profile signals for socially conscious consumers and mission-driven organizations that view banking as a means to fund positive social and environmental change rather than maximize personal returns. The primary caveat is that this mission-driven approach comes with a measurable financial trade-off: checking and savings rates are substantially below-market (0.10-0.30% vs. 4-5% online alternatives), making this bank suitable only for customers who explicitly value impact over yield.
Cathay Bank is a full-service bank offering personal checking, savings, home mortgages, credit cards, and digital banking services with multilingual support.
Google rating from 5 reviews
Profile signals: Multilingual customers preferring banking services in Chinese, Spanish, or English, Small business owners seeking SBA loan programs and analyzed business checking accounts
NYC-based CPA firm offering tax preparation, accounting, bookkeeping, and financial advisory services for individuals and businesses across New York.
Google rating from 505 reviews
Profile signals: New York-based business owners and self-employed professionals needing comprehensive tax and accounting support, High-net-worth individuals seeking strategic tax planning and estate/trust services
ICICI Bank's US branch offers NRI banking services including money transfers to India, home loans, and corporate banking from offices in New York, California, and Texas.
Google rating from 466 reviews
Profile signals: Non-Resident Indians (NRIs) who need to send money to family and financial accounts in India, Indian expats seeking home loans for property purchases in India while living in the US
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