Amalgamated Bank was founded in 1923 by the Amalgamated Clothing Workers of America, is a commercial bank chartered in New York with nationwide service.  Amalgamated Bank has bank branches in New York, California, Nevada, New Jersey and Washington, D.C.  The bank a full line of commercial and individual banking services offered in the geographic areas served.  At the end of 2007, Amalgamated Bank had $4,696,968,000 in assets.

Included in the bank products and services of Amalgamated Bank is a variety of certificates of deposit terms and interest rates.  Amalgamated Bank offers a 6 month CD with an interest rate of 2.00% APY.  The bank offers a two years CD that ha an interest rate of 2.25% APY.  They offer a three year CD that earns a rate of 2.50% APY.  And the bank offers a five year CD that has an interest rate of 4.00% APY.  All of these bank CDs require a low minimum deposit of $500.00.

In addition to these bank savings accounts, Amalgamated Bank offers a money market account that earns an interest rate of 0.60% APY that has a $500.00 minimum balance and a standard savings account that has a yield of 1.00% APY with no minimum deposit.  Unlike the bank CDs, these are variable rate accounts, the bank rates may change after the accounts are opened.

Customers that want a checking account that pays a market rate of interest can check out the bank NOW Checking account.  And those bank customers that prefer to do business online can use Amalgamated Bank’s online banking to view account balances and transaction history, transfer money, pay bills, download transactions to a personal financial manager and more.

The quoted interest rates are subject to change without notification.  Additional conditions may apply.  An Amalgamated Bank representative can be reached at 212-255-6200.  The bank web site offers a great deal of information on bank rates and bank products, the site can be found at www.amalgamatedbank.com.

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