What is Friends of Public Banking?

Public banking is a democratic approach to funding our values. Unlike other causes, it's not a narrow solution, a silo all to its own. It's more of a foundation that answers the question "Where are we going to get the money?" that many advocacy groups are asked. If you've been on the receiving end of that question and are tired of answering it with "more taxes" or "more bonds", supporting a public bank in your region may be something you might want to consider and support.

Friends of Public Banking, a national approach to public banking education and advocacy, is a coalition of individual supporters and organizational partners. In return for financial support, we provide the following to our partners:

- Interactive social engagement opportunities to expand your existing outreach efforts
- Training so that you can consider public banking as part of your overall strategy and campaigns
- Digital media advocacy opportunities to ensure that issue advocacy campaigns actively shape political consensus

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.

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