OUR Public Banking Action Team

Public Banking Action Team’s Mission

Promote public banking for local control of funds, investment and credit committed to thriving communities and a healthy planet.

What if banks served We The People instead of Wall Street?

Our cities, counties and state are forced to conduct their finance through the private banking system- wasting our tax dollars in unnecessarily expensive services by Wall St. banks with proven histories of fraud and corruption.  To get there we need a Municipal Public Banking License by the California Department of Business Oversight to allow cities or counties to develop their own banks.

What could a public bank owned by people do?

•     Invest in socially and environmentally responsible ways
•     Reduce public debt and debt service costs
•     Create affordable credit to fund local small businesses
•     Build affordable housing to address homelessness
•     Fund large public works projects with low interest loans
•     Protect local prosperity in economic downturns
•     Offer low or no interest student loans, no balance minimums, free check cashing
•     Serve banking needs for the cannabis industry

Who benefits from a Public Bank?

Taxpayers, Students, Seniors, Families, Homeowners, Entrepreneurs, Labor Unions, Municipalities… everyone!

What we expect from a Public Bank?

We want a public bank with a socially and environmentally responsible mission and one that operates with strong ethical standards for its financial and investment practices.

We want a public bank that:

• Prioritizes the greater good of the community
• Create affordable credit to fund local small businesses
• Helps build affordable housing to address homelessness
• Improves public infrastructure
• Reduces operating costs and helps lower taxes
• Extends affordable and enabling services to all residents

A government that owns its own bank can turn banking and credit into robust public utilities sustaining the local economy rather than extracting profits from it or the Wall Street banks.

A public bank provides a socially responsible alternative savings and loan service with people are shareholders and bankers are public servants.

We ask that all our representatives in every capacity afforded to them, support the creation of public banks and help redirect how our government agencies conduct their financed towards socially and environmentally responsible practices using public banks.

Become a member!

Contact SBPA Public Banking Action Team Chairs,  Jake Tonkel or  Mel Liu