The Illinois Amalgamated Bank Labor Council is established to assist the Bank in developing ideas and exchanging information to improve the Bank's services to the labor community.ĪBOC, establishes a customized labor-friendly proxy voting program.ĪBOC receives the "Corporation of the Year Award" from the Coalition for United Community Action/O.R.T.C., Inc., for its outstanding support of minority and female entrepreneurs, strong commitment to the labor movement and leadership within the Chicago financial community. The Bank supports the Chicago Federation of Labor and Industrial Union Council in its boycott of California grapes, promoting fair working rights for American farm workers.ĪBOC purchases and moves to One West Monroe in the heart of Chicago’s Loop. Dearborn Street to house the personal, auto and household improvement loan departments, as well as a night depository. Daley attends the ribbon-cutting for the Bank’s expansion at 111 S. Reimbold secures a special position for the Bank in the Federal Reserve System, freeing up capital for the Bank’s clientele. The Bank remains stable even during the throes of the Great Depression.ĭuring World War II, ABOC grants credit for companies producing for the war effort and performs other wartime functions, including selling more than $7 million in war bonds, and extending loans to returning veterans seeking to buy homes or businesses.īank president William C. These relationships are based on profound trust, in-depth understanding, and highly personal and responsive service provided by your experienced bankers.Īmalgamated Bank of Chicago (ABOC) is founded by the Amalgamated Clothing Workers Union to serve the financial needs of working people.ĪBOC is proof that a financial institution founded upon a strong socially conscious business philosophy can thrive in its community. For over 100 years, we have fostered deep ties to our customers and our community, serving the banking needs of countless businesses, organizations, institutions, and individuals – many for multiple generations. Chicago has seen a lot of change over the last century, and Amalgamated Bank of Chicago has been your trusted banking partner all along.Īs Chicago evolves, you can count on us to meet all of your banking needs. The principles that guided the development of the Foundation still guide its operations today.Amalgamated Bank of Chicago was founded in 1922 by the Amalgamated Clothing Workers Union (now known as Workers United) to serve the financial needs of local businesses and working people. And by spring of 1986, the Foundation made its first grants, totaling $50,000. Working their social and business networks, tapping their own experience, they reached out to women who, like them, wanted to transform society and their own place in it.īy the end of that first year, these women had incorporated the Foundation, had elected its first board of directors, and had begun fundraising. And they knew that women were underrepresented in philanthropy, unaccustomed to wielding the power to decide what issues were important and direct funding to where it could do the most good. They realized that only a tiny percentage of philanthropic dollars – just 3 percent in 1984 – were being spent to address women’s real and specific needs. They knew that lack of economic opportunity, poor access to reproductive and other health services, domestic violence, and a host of other issues daily threatened the well-being of thousands of women in Chicago, and, by extension, thousands ofįamilies. As a result, two-thirds of nonprofits for which CFW was the first institutional or ‘seed’ funder are still thriving 10 years after receiving their first CFW grant. Thanks to these partners, CFW invests in the future of emerging organizations through leadership development and support in building sustainable nonprofit infrastructure. Today, more than 37 years later, CFW continues to be the only organization in the region to take a comprehensive approach to understand and address the issues impacting Chicago-area women and girls.ĬFW works with a community of socially-minded investors who share our passion for improving the lives of women and girls, ensuring that every dollar they give achieves maximum impact. Since 1985, Chicago Foundation for Women (CFW) has been a leader in the movement to achieve basic rights and equal opportunities, investing in women and girls as catalysts building stronger communities for all. Chicago Foundation for Women invests in women and girls as catalysts, building strong communities for all.
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