2801 Telegraph Berkeley CA
Next Organizers’ Meeting!
If you would like to come early and get an introduction to the concepts of public banking, or more locally to who we are and what we do, please email us and someone will come meet you at 5:30.
Working Group Meetings:
Some of our working groups meet between organizers’ meetings, and others just confer by phone and email. You can plug into any one of these:
- Outreach to Organizations
- Outreach to Individuals
- Digital Outreach
- Advocacy (working with politicians)
- California Public Banking Alliance
Just send us a note and we’ll help you get connected to the work you want to do.
On October 2, 2019, Governor Newsom signed the law enabling local public bank charters in California. We have made history! And we have more history to make! Follow our latest news page for new developments. We’re keeping an updated list of articles about the bill and other public banking news.
People want DIVESTMENT.
The cities of Berkeley, Oakland, and Richmond (not to mention Seattle, Santa Fe, etc., etc.) have all voted for divesting from pipelines and fossil fuels, but none of them have carried through. Why not? Because there is literally no clean bank big enough to handle their deposits.
People want LOCAL REINVESTMENT.
Our cities are teeming with urban problems, almost all of them disproportionately affecting black and brown populations: homelessness, gentrification pushing out marginalized communities, desperate infrastructure needs, impoverished parks and recreation programs, struggling local businesses, lack of local jobs, and so much more. Yet we send between 7 and 15 cents out of every tax dollar out of our cities forever, and into the hands of Wall Street bank shareholders, who couldn’t care less about our streets and our schools. When those banks profit from our tax revenues, they send the money straight into their own pockets. It’s like paying sales tax on our own money to greedy corporations.
People want A PUBLIC BANK.
The Bank of North Dakota, one of two public banks currently existing in the United States, not only saves the state of North Dakota that 7 to 15 cents per dollar, but also makes money. In 2017, its return on investment was 17%! In 2008, North Dakota didn’t have a foreclosure crisis, because the Bank of North Dakota didn’t invest in risky mortgages. And if you live in North Dakota, or go to college there, the bank will buy back your student loan … and restructure it to give you a 4% interest rate.
The East Bay can have our trifecta:
- LOCAL REINVESTMENT
- THE PUBLIC BANK OF THE EAST BAY
We are very closely allied with the California Public Banking Alliance, where nine regional California activist groups are working together to facilitate statewide change and make public banks more feasible.
We support the Green New Deal, which includes the stated intent to rely on a network of public banks for funding.