Amalgamated Bank (Nasdaq: AMAL) today announced the launch of the Frontline Workers Fund, 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 Donate the Change 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.
Click here to learn more and donate.
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