To Learn More about Public Banking:
This page is definitely still under construction. In the meantime, we recommend these resources to learn more about public banking. Also check our Facebook page, which lists many updates about public banking efforts throughout the country.
Public Bank LA
Brief intro by Public Bank LA (00:01:29)
2-hour long introduction to public banking by the passionate, inspirational and highly effective young public banking activists working towards a public bank of Los Angeles. (01:53:00)
Excellent interview with Trinity Tran and Phoenix Goodman, co-founders of the effective and well-organized Public Bank LA (00:36:00)
Your Pension and the Planet
While not specifically about public banking, this video demonstrates the social and financial reasons for divesting from fossil fuels. Public banking helps enable large institutions such as cities to divest from fossil fuels and other socially irresponsible investments. One of Fossil Free California’s major campaigns is pressuring the California State Teachers Retirement System (CalSTRS) to divest. This video explains to teachers why they should demand that CalSTRS divest now—in order to protect their retirement AND the future of their students. (08:16)
History of Bank of North Dakota (BND) (26:29)
The U.S. currently only has one public bank, the Bank of North Dakota. But many other countries have public banks. Sparkassen is only one of several German public banks.
ILSR: Public Banks: Bank of North Dakota
From Institute for Local Self-Reliance (ILSR) 7/2/2015
"Thanks in large part to BND, community banks are much more numerous and robust in North Dakota than in other states. North Dakota has more banks and credit unions per capita than any other state. In fact, it has nearly six times as many local financial institutions per person as the country overall. While locally owned small and mid-sized banks and credit unions (those under $10 billion in assets) account for only 29 percent of deposits nationally (see this graph), in North Dakota they have a remarkable 83 percent of the market.
"By helping to sustain a large number of local banks and credit unions, BND has strengthened North Dakota’s economy, enabled small businesses and farms grow, and spurred job creation in the state.
"Over the last 21 years, BND has generated almost $1 billion in profit. Nearly $400 million of that, or about $3,300 per household, has been transferred into the state’s general fund, providing support for education and other public services, while reducing the tax burden on residents and businesses."
The Growing Movement to Create City Run Public Banks
From Fast Company 1/8/2018
"A public bank, they realized, could be designed to bar unethical business practices. It could also save the city money. Los Angeles, for example, paid private banks more than $100 million in fees in 2016."
The Public Bank Solution: From Austerity to Prosperity
by Ellen Brown
Web of Debt: The Shocking Truth about Our Money System and How We Can Break Free (5th Revised Edition)
by Ellen Hodgson Brown