PUBLIC BANKING WORKS
National Movement for Public Banks
The advent of BankAct and the groundswell of support we are seeing for public banking all over the country speaks to this critical historical moment. The Occupy movement made the growing gap between the 99% and the 1% a household term – the Public Banking movement is poised to make the changes needed to change the trend toward inequality and bring economic democracy to a country built on the tenets of equity, self-determination, and the possibility of human fulfilment and happiness.

This movement will be an amalgamation of smaller, local, regional, and state efforts to foster structural change on the levels that are closest to the people, and therefore the most accessible to average citizens. Whether it is a city bank in San Francisco, or a County bank in Michigan, or a State Bank in Vermont, all of these efforts share common values, and also share a common need for good information and knowledge about what the experience has been elsewhere.

To that end, we will be updating and expanding our web site and social media presence, and will work hard to find new ways that local activists can learn from the more seasoned campaigners in other places. We will find ways to fund studies of the economic impacts of public banking, and will offer technical assistance, testimony, and critical authoritative studies to the table to demonstrate the benefits of a new system. We will be seeking funding and writing studies as well about the current economic impacts of the existing system, following the lead of the Fix L.A. Coalition when they published a study called No Small Fees: L.A. Spends More on Wall Street than Our Streets.

Movements are complex entities, and movement politics can be fraught with splintering and conflicts as passionate people butt heads to find the best way forward, and it takes clear leadership and peacemaking skills to insure that coalitions are built and unity is maintained, even at times when it seems as if things are falling apart. The Public Banking Institute is committed to take this leadership role for economic democracy that can be created through financial, investment, and exchange innovation, and we’d like you to join us in our efforts.