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Amalgamated Bank Commits $700M to Finance Socially Responsible Businesses

Image credit: Amalgamated Bank

Amalgamated Bank — the US’ largest socially responsible bank, which recently acquired New Resource Bank — has committed to double the amount of assets New Resource has dedicated to financing socially responsible businesses over the next two years, moving from its current commitment of $350 million to at least $700 million by 2020. This commitment, “2X Impact,” will focus on doubling the bank’s impact in four core impact areas: Environmental Protection, Health & Wellness, Education & Community Empowerment, and Sustainable Commerce.



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This announcement comes on the heels of Amalgamated Bank’s acquisition of New Resource, which has enabled the combined bank to broaden its services and support for clients across the country. Now, the combined bank is able to become an even greater force for good by combining their complementary expertise, expanded balance sheet and shared commitment to having a positive impact in the world. Together, Amalgamated and New Resource, both certified B Corps and Global Alliance for Banking on Values banks, are working to confront the serious climate and social inequities of our time and to restore the financial system to its proper role in support of people and the planet. Amalgamated Bank is also a member of RE100, a growing group of companies committed to transitioning to 100 percent renewable power across all of their operations by 2020. 

President and CEO Keith Mestrich commented: “Amalgamated is proud to be able to help sustainable and socially responsible businesses by providing funding to fuel their growth and impact — whether it’s to fund new equipment needed to meet larger orders, energy upgrades to reduce operating costs and achieve higher margins or real estate loans for green businesses that are expanding. We believe that if our clients are achieving their missions, then we are achieving ours: making the world a more just, compassionate and sustainable place. We look forward to working with existing and new customers to provide them with the financing they need to grow and expand their businesses, while building a more socially and environmentally just world.”


Launched in 2006, Sustainable Brands has become a global learning, collaboration, and commerce community of forward-thinking business and brand strategy, marketing, innovation and sustainability professionals who are leading the way to a better future. We recognize that brands today have… [Read more about Sustainable Brands]


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