Public banks for our future
Friends of
Public Banking
It’s time for a democratically based financial system.
I support the creation of publicly-owned banks that are dedicated to serving the public interest.
The problem
Our money system is controlled by private global banking interests whose only motive is profit:
The solution
How do publicly-owned banks make a difference? Watch this short video:
The path forward
A public bank is a chartered bank owned by a local community — city, county, state, nation, or tribe — through its local government. As a chartered bank, it accepts deposits and creates money as credit (loans) that benefit the public. This function is an essential public utility that belongs in the hands of the people.
Add your name to our Friends of Public Banking national roster to stand with the critical nationwide efforts to create public banks.
I support the creation of publicly-owned banks that are dedicated to serving the public interest.
More on how PRIVATE banks keep control:
Banks issue money as credit and set the rules for who gets it and on what terms. The result is a system that keeps an elite few very rich and the majority poor.
Banks can now borrow from the Federal Reserve at a quarter of 1 percent – virtually for free – yet have not passed along those low rates to benefit the people. Credit cards are still hovering around 20% APR.
State and local governments, small and medium sized businesses, and individuals are all being crushed by ever-escalating debt.
U.S. State and local governments currently pay $160 billion each year just in interest payments on their bonds. That’s $160 billion sucked away from local governments, local businesses, and citizens into the pockets of wealthy investors.
More on why PUBLIC banks make a huge difference:
It’s time our communities get the same great deal the banks get — we need to have our own banks and borrow from the Fed virtually for free at a quarter of 1 percent.
Our money supply has value only because it is backed by the full faith and credit of the people. It is our money and credit, and creating it is our sovereign right.
Public banks:
- Return the power to create money and credit to the people.
- Keep public dollars at home and leverage them to benefit our local communities.
- Can work with local community banks and credit unions to invest in local needs.
- Can save billions of dollars annually for our cities and states.
Local control
local benefits
local power
why publicly owned banks?
We believe we need to transform America’s banking system from one of private profiteering to one of public service.
Communities need a financial system that is dedicated to benefit the public good, not the financial interests of a few wealthy shareholders.
our communities need help
Individuals, communities, and states are not receiving the financial resources they desperately need to recover from crises, support small businesses, rebuild infrastructure, or grow the real productive economy on our Main Streets.
Sign the Declaration
I support the creation of publicly-owned banks that are dedicated to serving the public interest.