Can a New York edge be a nationwide edge? Amalgamated Bank is betting on it.
The $4 billion-asset bank known for its ties to unions and progressive politics is embarking on a national digital consumer expansion, hoping its mission will resonate beyond the Big Apple.
For its first experiment, it partnered with national organizations like MoveOn.org Civic Action, Color of Change and the YWCA to connect with their followers and supporters. People who signed up for Amalgamated accounts got $150 for themselves and $50 for the organizations.
“If we really want to be oriented and connected to progressive causes, we need to go national and find the segments of people who are looking to align themselves with the causes they support,” said Martin Murrell, executive vice president of consumer banking at Amalgamated.
For more on this story visit the following link: As Banking Goes Digital, How Much Does Geography Still Matter?
Source: American Banker