What is Friends of Public Banking?

​Friends of Public Banking is a new initiative to organize and focus the widespread general support found in the public banking movement. We use video-based social media to educate and advocate for public banks. We also conduct outreach campaigns to broaden the public banking constituency, as we are currently doing in Los Angeles. (You can join us by donating here). As a major campaign of Commonomics USA, Friends of Public Banking is our way to convey important information and calls to action regarding the privatization of public assets in the USA. Commonomics USA provides public policy expertise on public banking, postal banking, cooperative economics, and other matters involving public finance.

What is Public Banking?

​​A public bank is a simple and proven concept. It is essentially a public option for banking, an organization owned by the government and chartered by the state to accept deposits and make loans. Many people don't realize this, but governments are already in the lending business -- most have a portfolio of loans (provided to small business, farmers/ranchers, homeowners, etc.) scattered among different governmental organizations. A public bank consolidates these loans and serve as a way to fund them with a lower cost of money. For example, the North Dakota Treasurer places all tax and fee revenue in the ND state bank and uses the credit to provide low cost funding for consolidation of student loans, housing and other infrastructure, commercial loans, and projects that generate cash but are not included in government budgets.

Campaign Overview

The Friends of Public Banking campaign is nationwide, primarily utilizes the Facebook and Twitter platforms, and conveys information using educational, news and announcement videos and with in-person outreach. Please help by liking and sharing the videos you find to be especially relevant and valuable. Thank you!

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​friends of Public Banking Tweets

Jun 30, 2018
RT @tran_scends: So proud of our mighty coalition of superheroes. We delivered public comment today in support of City Council's motion ame…
Jun 29, 2018
With a unanimous vote, LA City Council places a Public Bank of Los Angeles on the ballot. #HopeIsOnTheBallot… t.co/…
Jun 28, 2018
Momentous development...happening on Friday 6/29! t.co/…
Jun 6, 2018
t.co/… @DCPublicBanking @Revolution_LA_ @OaklandBank @publicbankla t.co/…