Why Do We Need A Public Bank?
Public banks have a model in the Bank of North Dakota which enables the state to deny Wall Street control over billions of dollars that flow through government coffers every year. Instead of letting Wall Street siphon off interest and profit on state monies, they are invested and re-invested in infrastructure, and the needs of students, homeowners, and small businesses. The profits from those investments go to the people of North Dakota rather than to distant shareholders. We can have a bank that does the same thing for the people of Philadelphia.
What We Do
The most important thing to do regarding public banking is to spread the word about a concept that few understand but almost all deeply appreciate when they learn about it. That’s why our members formed the Philadelphia Public Banking Coalition to reach out to other like-minded individuals and groups to educate and organize them to promote a Philadelphia Public Bank.
We have also collaborated with Council member Derek Green to hold Town Halls, community radio programs and YouTube events about the issue.
We’re currently planning a “Visioning Summit” to be held on September 18th from 1-5pm to bring people together to envision a Philadelphia Public Bank, which we’re hoping City Council will bring into existence before the end of 2021. Save the date!
Financing Philadelphia's Future
On the last Tuesday of every month from 4:30 to 5:00pm, Council member Derek Green discusses the advantages of public banking with financial experts and community leaders via Zoom. These live discussions are available to the public and their recorded videos are available on our YouTube Channel.