Amalgamated Bank
Union-founded New York bank, chartered in 1923, that lends to political and advocacy groups.
Last refreshed: 27 October 2026 · Appears in 1 active topic
Timeline for Amalgamated Bank
Mentioned in: NRSC borrows $20m against its donor list
US Midterms 2026Extended a $25m line of credit opened on 24 July
US Midterms 2026: DSCC borrows $15m from Amalgamated BankBackground
Amalgamated Bank holds the Democratic Senatorial Campaign Committee's $25m line of credit, opened on 24 July 2026 and running to 30 June 2028. The DSCC drew $15m from it on 5 October, secured on the committee's current and future assets, and ended 14 October owing the full $15m.
The Amalgamated Clothing Workers of America founded the bank in New York in 1923. It is headquartered at 275 Seventh Avenue and trades on Nasdaq as AMAL. Its clients include Labour unions, non-profits and political and advocacy groups, among them the Democratic Governors Association.
A credit line lets a party committee spend late against pledges it expects to collect after polling day. The loan sits on the DSCC's public reports, so the balance on its post-general report will show how far Senate Democrats leaned on borrowed money in the final weeks.
Who lent the DSCC $15m in 2026?
Who owns Amalgamated Bank?
What are the terms of the DSCC's Amalgamated Bank loan?
Written with AI from Lowdown's published reporting. Not individually reviewed by an editor. Updated 27 October 2026. Editorial standards.