Timeline - Bank of Labor

Our History

Serving Unions Since 1924

Bank of Labor is the evolution of nearly a century of labor banking experience. From its roots as a labor community bank to its potential as a modern financial institution serving North America’s union and labor-related entities to ensure your needs are met and your money is working to promote and sustain unions.

From its remarkable endurance during the Great Depression to the devastating Great Recession, claiming so many financial institutions in our time—the Bank of Labor stands as a testament to the endurance of the labor movement.

Timeline

It all began

1924

  • 1924

    Founded in 1924 by the International Brotherhood of Boilermakers, Brotherhood State Bank grew its roots deep into the labor community of Greater Kansas City. Its original mission was to be a bank that working men and women could trust with their hard-earned money. And we have steadfastly fulfilled that mission.
  • 1929

    The Great Depression was a severe global economic depression that took place mostly during the 1930s. In most countries, it started in 1929 and lasted until the start of WWII. It was the 20th century’s longest, deepest, and most widespread economic depression.
  • 1940's

    Bank of Labor emerged as a survivor among the more than 50 labor banks from the era during which it was founded.
  • 2008

    The crash of the 2008 stock market resulted in millions of unemployed citizens... many of them union members, downturn in home values, and the disastrous impact on our hard-earned pension plans. Many pension plan funds, unfortunately, still remain in the custody of these "Too Big to Fail" banks that nearly brought down the financial system of the United States.
  • 2015

    Bank of Labor held the grand opening of its downtown Washington, D.C. office on August 11th. The opening ceremony drew more than 150 labor leaders and supporters.
2020

Celebrating 96 years of service

We hire, serve, live & breathe union