Site will be near AFL-CIO headquarters
BANK OF LABOR will open a new Washington, D.C., office in the spring of 2015, providing a physical presence for the bank in the hub of the U.S. Labor Movement. The office will be located at 815 Connecticut Ave., just a short walk to AFL-CIO headquarters. In a statement released to the media December 11, International President Newton B. Jones, Bank of Labor CEO and Chairman of the Board, said the bank will cater primarily to national and international unions, local lodges, progressive groups, and union-affiliated organizations.
“Our bank is a much different institution than large commercial banks and even smaller community-based operations,” he stated. “We are majority owned by the International Brotherhood of Boilermakers and some of the IBB’s local lodges; our hourly employees are members of the United Mine Workers of America; we have a labor advisory board composed of prominent leaders in the Labor Movement; and our products, services and outreach are designed especially for unions and their members.”
Bank of Labor has its roots as a regional bank founded by the Boilermakers in 1924. The bank is one of only two labor banks from that era to survive the Great Depression and Great Recession while maintaining its majority union-owned status.
“To help fulfill our mission to serve the broader Labor Movement, we needed an everyday presence in the nation’s capital,” Pres. Jones continued in the statement. “Because this is a major hub for unions, locating near the AFL-CIO headquarters and in the vicinity of many national and international unions is an important strategic move for us.”
Bank of Labor offers an extensive network of ATMs and 24/7 online account access, with an array of online and mobile products. Bank representatives will be available to meet at customer locations throughout the greater metropolitan area.
The office will be shared with Union Insurance Group, a Bank of Labor partner.
Bridget Martin named BOL Market President
Former IBB director will promote bank relations
BANK OF LABOR and the International Brotherhood of Boilermakers (IBB) announced December 11 that Bridget Martin has been named market president for the bank’s East Region.
As Market President, Martin is responsible for developing and growing relationships with labor and progressive organizations, facilitating the bank’s expansion in the greater Washington D.C. area.
Martin joins Bank of Labor after more than 20 years with the International Brotherhood of Boilermakers, where she served as Director of Political Affairs. She also served as Special Assistant to the International President, a position she will retain. Martin was instrumental in establishing critical relationships across all constituencies vital to the union. She greatly enhanced and expanded political education opportunities for the Brotherhood’s membership base and successfully promoted active political involvement at all levels of government. Her membership in Boilermakers Local 693 (Pascagoula, Miss.) spans more than two decades.
“Over the course of her career, Bridget has been involved in promoting the interests of organized labor, and she has served our membership with integrity and distinction,” said Newton B. Jones, IBB International President and Bank of Labor’s Chairman and CEO. “She is experienced in political strategy, government relations and public affairs, and is highly regarded for her ability to lead and establish key relationships. In these respects, Bridget’s experience perfectly matches her new role at the bank, and we’re excited to add her to our team.”
