COMMONOMICS
Growing Our Common Wealth™
Public Banking
Presentation Video and Slides
 
​Hello! Welcome to the North Coast Public Banking Working Group. We meet every other week by conference call beginning Dec 2, 2016. Additional dates are: 12/16, 1/13, 1/27, 2/10, 2/24, 3/10, 3/24, 4/7, 4/21, 5/5, 5/19, 6/2, 6/16, and 6/30. In-person meetings begin Friday, January 6, 2017 at noon PST at the Arlene Francis Center at 99 6th St in Santa Rosa. These will alternate with the phone conference calls.
NorthernCaliforniaLegalEdMemo011017_2.pdf
click to download
Interested in supporting a grassroots effort that aims to establish a public bank in northern California? We've got a lot of work to do, and to begin, we need your support. Take a look at the plan by reviewing the proposal and then contact us at info@commonomicsusa.org to arrange your donation.

Public Banking Works Campaign

​Using the credit generated from a public bank to fund low cost ways to consolidate student loans, fund local business expansion, and establish affordable housing is just another good idea, right? It’s not just an idea, frankly. It’s already working. Public banking works to establish a low cost renewable energy grid in Germany, fund a pasta company in Philadelphia, connect high technology irrigation with agriculture in the dry Great Plains, and build a water treatment plant in Grand Forks, ND with a long-term loan at 2% annual interest. These and other case studies will be published weekly during the first half of 2017.

Oakland City Council Funds Public Banking Study

​Oakland City Council unanimously passed Councilmember Kaplan’s Resolution calling for the City Administrator to look into the process of establishing a public bank for the City of Oakland.

Please click here to read the Resolution and accompanying Memo

The Resolution, co-sponsored by Councilmembers Kaplan, Kalb, and Guillen, directs the City Administrator to look into the scope and cost of conducting a feasibility study for public banking in Oakland and possibly the larger region. It also directs City Staff to solicit input from community stakeholders about the feasibility study, including suggestions of potential contractors and funding sources; and makes it clear that the study should cover the legality and feasibility of banking the cannabis industry.
 
The Resolution generated support from Councilmembers and community members alike. Matt Hummel, Chair of the Oakland Cannabis Regulatory Commission, reported that the commission fully supports the idea of a public bank for Oakland because of its potential benefits for the cannabis industry. Oakland activist Susan Harman said: “As Councilmember Kaplan recently returned from Standing Rock, it is important to note that Chase is one of the funders of the Dakota Access Pipeline. This is just another reason why Oakland should create a public bank – so the City can divest from its relationship with Chase.”

Public Banking Workshops

Why is $1 of credit different with a public bank than with a private bank? Here are just a few of the many reasons:
  • Interest rate is typically lower, leaving more money in the pockets of students, business owners, and taxpayers funding infrastructure.
  • Interest paid is returned to the local taxpayers in the form of additional services or lower taxes.
  • Terms are more reasonable, reducing credit defaults.
  • Economic development is targeted in the areas that are a priority (renewable energy, affordable housing, clean water, etc.) for the community.
If you would like to better understand how this works, please contact Commonomics USA to discuss how we can provide you with a workshop.

Cost of Wall Street GIS Mapping Project

What is the cost of Wall Street in your city, county, and state? How much does your local government pay for debt servicing costs? How much has your School Board obligated future taxpayers to pay Wall Street for the money that is being borrowed today? We're answering these questions and more with a set of GIS maps. More at www.costofwallstreet.org.

Friends of Public Banking Advisory Committee

Commonomics USA is expanding its support of public banking and is forming an Advisory Board toward this end. Please contact Marc Armstrong if you wish to be considered for this Advisory Board by sending an email to marc at commonomicsusa dot org.