Union-Owned Bank of Labor to Open D.C. Branch

The Kansas City-based union-owned Bank of Labor will open a branch in the nation's capital in the spring. The 90-year-old institution was founded by the Boilermakers. Opening the branch “is an important strategic move for us” due to concentration of national and international unions in D.C., said Boilermakers President Newton Jones, its board chairman and chief executive officer.  When it opens, the Bank of Labor will join other union-owned financial institutions in downtown D.C.: ULLICO, the Amalgamated Bank of New York, and the AFL-CIO Credit Union.  American Income Life Insurance, which is also pro-union, has an office
nearby.    
- PAI

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