Organize Amalgamated Bank of New York
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Organize Amalgamated Bank of New York

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Notice of intention to organize the Amalgamated Bank of New York has been filed with the office of the State Examiner of Banks of the State of New York by the Amalgamated Trust and Savings Bank of Chicago founded by the Amalgamated Clothing workers of America with a capital and surplus of $300,000.

The initial capital of the Bank is $200,000 with $100,00 surplus. 2,000 shares will be issued at $150,00 each, and will be limited to the members of the Amalgamated Clothing Workers of America.

The incorporators of the Amalgamated Bank of New York are Sidney Hillman, General President of the Amalgamated Clothing Woers of America, J. Schlossberg, General Secretary-Treasurer, Jacob S. Potowski, Assistant Secretary-Treasurer, members of the General Executive Board, Frank Bellanke, Eyman Blumberg, Joseph Gold, Abraham Miller, Peter Monat and Mrray Weinstein, and Raymond L. Reuheffer, President of the Amalgamated Trust and Savings Bank of Chicago.

Founding Funders

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  • Righteous Persons Foundation
  • Charles H. Revson Foundation
  • Elisa Spungen Bildner and Robert Bildner, in honor of Norma Spungen
  • George S. Blumenthal
  • Grace and Scott Offen Charitable Fund