Subject: Labor's Push for Progressive Banks and Responsible Contractor Policies
From: "Tom Croft" <[email-masked]>
To: <[email-masked]>
Date: Thu, 10 May 2018 12:03:45 -0400 (EDT)

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May 10, 2018
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Unions and Banks: Working Together for Our Money

Dear H,
Happy Nurses and Teachers Week to our friends in the field! You are commended for
your work on many levels in being part of the movement to educate our next generation.
In this issue of the EXpresso, we're sharing two pieces from our colleagues at Pensions
& Investments online. First, in a speech at the NABTU Conference in mid-April, Building
Trades President Sean McGarvey made it a point to encourage members to lend their
voices to the fight for responsible investing of pension dollars. This includes 
requiring responsible contractor policies (RCPs) when hiring for projects. We are
proud to call NABTU a new Heartland sponsor, thanks to our friend Dan Pedrotty, 
who has fostered some important new RCPs with larger banks who encourage the RI 
movement.
Secondly, we feature an interview with our newest Heartland member, Keith Mestrich
of Amalgamated Bank. With their December 2017 announcement to acquire San Francisco's
New Resource Bank, Amalgamated will become a powerhouse of doing good with regard
to responsible investing.
Finally, if you did not have the opportunity to participate in our latest webinar,
Waiting for Godot?, we've provided a link to the recording as well as a copy of 
our accompanying mini-book. In the webinar, you can hear one of the first on-line
responses to the Trump DOL's regretful (but meaningless, in the end) new Field Bulletins
on ESG.
Remember - one for all and all for now!
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SOCIAL
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LINKS OF
INTEREST

Heartland Capital Strategies [http://r20.rs6.net/tn.jsp?f=001Mp9sQzcMh4FNA9BoMPmI2s3wAzBNDAHt2077q1g7KdiUBn6F8wfc8JuPODV1kllCUABkBkvYwuL-xxpiTfamO_RqV9nVqngSycPeMPXcP1yfHrzdGVKQXISqqgG3s4zk9IzjfQ_5w9Rk5QPwnJULVMZMXd38MWv4BVA-dvkoY0WtaG4FiwamUw==&c=TgEvo27cFb4pdFFXUpj5nc6KGENaGefPpxPH6VKePhfZuMpkEC16rw==&ch=TCX5rkkzV6RvArVwGPMOxMxaHm6QNJDI20t5eACJcraOZCKzMk9g3w==]
Responsible Investor Handbook [http://r20.rs6.net/tn.jsp?f=001Mp9sQzcMh4FNA9BoMPmI2s3wAzBNDAHt2077q1g7KdiUBn6F8wfc8FE7sZc4Y08s6D6AaOBk8JeAro5pbTNbVfszaJd7ics9pNRf37tSGlwYdIZljc84RCNZefxm8EqdtqgQDVsH1gingPcIC1qWRrv1REfQXrA1kWJzI0NT2JJDZG_VbalK3Vs8zlKqHfSJYQ7uRKQ0lkP5deIQh4l5SJuJ7fEzjgBh&c=TgEvo27cFb4pdFFXUpj5nc6KGENaGefPpxPH6VKePhfZuMpkEC16rw==&ch=TCX5rkkzV6RvArVwGPMOxMxaHm6QNJDI20t5eACJcraOZCKzMk9g3w==]
Heartland Webinar - RI & the Labor Movement: A Love Story!
February 16, 2018
Featuring Keith Mestrich, Amalgamated Bank
Register Today [http://r20.rs6.net/tn.jsp?f=001Mp9sQzcMh4FNA9BoMPmI2s3wAzBNDAHt2077q1g7KdiUBn6F8wfc8EJofiqsNyO3r5MFCHzo96NmKqhnaStTCC-cgGnL-kb_JmglW7znZqtE3uTZYUa8NWMdmI__1BKJrVB_MsxhtefoHfiNDx_Fo_kz5oiwoeDcGG7r1t1X0Rv2F6HZxUcndxX-g91SmaRVsd9rk5vqOT9OerB0pIZf0MC8y5P_LdjqMlEmcx0YicezZ6BXkF6VkQ==&c=TgEvo27cFb4pdFFXUpj5nc6KGENaGefPpxPH6VKePhfZuMpkEC16rw==&ch=TCX5rkkzV6RvArVwGPMOxMxaHm6QNJDI20t5eACJcraOZCKzMk9g3w==]
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ECOSYSTEM PARTNERS

Sleigh Strategy, LLC
Robert Samuel
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Unions look for jobs to go with their infrastructure investments
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As  they push for more infrastructure spending, some unions also are  flexing their
financial muscle to make a direct connection between union  jobs and where $500 
billion in union pension assets are being invested.
"We  are making sure all of our resources are utilized to support our  mission, 
not to undermine it," said Sean McGarvey, North America's  Building Trades Unions
president, at a Washington legislative conference  in mid-April. "We are getting
 smarter and taking control of our own  destiny. If we recognize the value and power
of our retirement funds ...  we can drive job creation today and for generations
 to come."
All  14 building trades unions will insist that their pension funds are  invested
in a fiduciary manner that also provides work opportunities for  members, Mr. McGarvey
said.
Tying  the investment of union pension assets to union jobs has long been the  point
of union-affiliated asset managers like Ullico Inc. and the  AFL-CIO's Housing Investment
Trust. Officials at the Laborers'  International Union of North America, Washington,
took that a step  further in 2004, launching a capital strategies program that maps
their  $50 billion in pension assets to where they are invested and whether  union
jobs benefit. [READ MORE [http://r20.rs6.net/tn.jsp?f=001Mp9sQzcMh4FNA9BoMPmI2s3wAzBNDAHt2077q1g7KdiUBn6F8wfc8AjGUT3_DLLOkRD22640BQEz5lysEjRqu8KY9ML1IbfbXcm_vaRkJG8JJ0NV_vmSsDqV3MzAEBt5d72ISaIg2AR2cFA5vFpj0QdBOCdmvyVDx5p8loxE3jqPF5bgd0ukA3iP2HeukNpAOZdDC0oro4PA_2DF0bIMXCuv-4CEH_hAIJbUoWM9lgI7cbjkFDZfII_3yF5bveMBmhH_PXMcOXmXP1vmBSk27n-8yV94tjE8O7SZZeixtswCMhg-lTJnbg==&c=TgEvo27cFb4pdFFXUpj5nc6KGENaGefPpxPH6VKePhfZuMpkEC16rw==&ch=TCX5rkkzV6RvArVwGPMOxMxaHm6QNJDI20t5eACJcraOZCKzMk9g3w==]]
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'Too Good to Fail': Big Ideas for a Big Bank with Values
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People  are distrustful of big banks, perhaps today more than ever before. It  only
takes a look at the financial crisis and subsequent  trillion-dollar bailoutof banks
that were deemed "too big to fail," or  more recently the systemic fraud at Wells
Fargo, to understand why. In a  quest to scale a different kind of bank, in December
2017, New  York's Amalgamated Bank announced its plan to acquire San  Francisco's
New Resource Bank. The $58.5 million purchase would create a  first of its kind 
"platform for a nationwide, values-based financial  institution."
Amalgamated  Bank has a 94-year history of building a bank to serve the needs of
  workers. Founded by a union called The Amalgamated Clothing Workers of  America
in the 1920s, Amalgamated set itself apart with self-proclaimed  "progressive" practices
that were innovations in its day, such as  offering free savings accounts and lending
opportunities to the growing  urban industrial working class. The bank also worked
with European  institutions to pioneer remittance products that allowed immigrant
 garment workers in the U.S. to send money to their families overseas.
Amalgamated  has broadened its focus over time, but its insistence upon positive
  impact has been unshakeable. "We've always done a lot to support the  low- and
 moderate-income neighborhoods of New York City," says Keith  Mestrich, CEO of Amalgamated.
"But what has really distinguished us  [from] just being a labor bank, is we support
a broader swath of  organizations and institutions that include the advocacy community,
 nonprofit organizations, progressive philanthropy and democratic  political institutions."
[READ MORE [http://r20.rs6.net/tn.jsp?f=001Mp9sQzcMh4FNA9BoMPmI2s3wAzBNDAHt2077q1g7KdiUBn6F8wfc8AjGUT3_DLLOY2xLwsmtbiWaonZi6GM0zzAjWfEi32R5bNDAU-aK4MutA-vb-l9bs_p9DUW6sn7MHc6-ZPq4MdlXkUBkHBJfRbBovvMGbS_cOTARrzVabBVmny3XMdprMUelG885pIkgsvK1OxGIXf7lohRwwseTWgJl03COMlBmEIcXtlC19oZ3ajfQcY0Kmj9h6Pdjm4wgs_3N06h7TT6dYLiFWu5Ofwg4dUng5Hf8BamtvfJ0Fng=&c=TgEvo27cFb4pdFFXUpj5nc6KGENaGefPpxPH6VKePhfZuMpkEC16rw==&ch=TCX5rkkzV6RvArVwGPMOxMxaHm6QNJDI20t5eACJcraOZCKzMk9g3w==]]
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Heartland Webinar & Mini-Book
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On Friday, May 4, Heartland presented it's third webinar, Waiting for Godot? How
 to Reclaim Control of Our Money...Now! Our guest moderator, David Keto of the SRI
Group, conducted an engaging conversation on fiduciary duty with Dr. Tessa Hebb 
and Dr. Jim Hawley.
A recording of the webinar and our accompanying mini-book are available on our Heartland
website. [http://r20.rs6.net/tn.jsp?f=001Mp9sQzcMh4FNA9BoMPmI2s3wAzBNDAHt2077q1g7KdiUBn6F8wfc8Cx0qXhKH0GdXfDzLLTQWP_70OOTmdeLlyov96emAtmqTqSrKUUCXFED6V_nScwWy6mH37oGuuv-Gp1QRyu-MlBYYmOIBCekt8cAUCGBYKAnfSNYC7MeVz9dBNL_ViANCSdhkM0Qib3l&c=TgEvo27cFb4pdFFXUpj5nc6KGENaGefPpxPH6VKePhfZuMpkEC16rw==&ch=TCX5rkkzV6RvArVwGPMOxMxaHm6QNJDI20t5eACJcraOZCKzMk9g3w==]
We hope you'll join us in June for our next session on corporate governance.
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Heartland Capital Strategies [http://r20.rs6.net/tn.jsp?f=001Mp9sQzcMh4FNA9BoMPmI2s3wAzBNDAHt2077q1g7KdiUBn6F8wfc8Fcq1A2n8auM9yR_G5hr2TjO8BSXcS2Ihrq8cWR_gvEDrunwnpEF3qp9bNpSxtC-DdR2YealsT2636Y-jM6OKkmcgd8CC5luBXrAKBroN1FE2BLpZkLPfMgVzqoOmILwCA==&c=TgEvo27cFb4pdFFXUpj5nc6KGENaGefPpxPH6VKePhfZuMpkEC16rw==&ch=TCX5rkkzV6RvArVwGPMOxMxaHm6QNJDI20t5eACJcraOZCKzMk9g3w==]
fosters a "Community of Practice" for responsible economic impact investments. Heartland
promotes strategic responsible investments to rebuild the rebuilt environment, renew
the industrial commons, grow the clean economy, and make the boss more accountable.
Inspired  by the United Nations Principles for Responsible Investment (PRI),  Heartland
Capital Strategies (HCS) promotes investments and projects  essential for revitalizing
our productive economy and community  prosperity.

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