SF Public Bank

What if San Francisco decided to keep its approximate $10B in annual cash flow of taxpayer money in a bank that prioritizes people over profit? San Francisco's taxpayer money goes to big banks like Bank of America, which engages in socially and environmentally destructive practices. Meanwhile San Francisco struggles to fund affordable housing, homeless services, education and infrastructure. From

11/28/2023

With your help, we've made major milestones this year; seeing the city produce and accept the plan for the San Francisco Public Bank; we are closer than ever to building that institution that means public money for public good.

We need your help to put the plan into action, keep the pressure on the politicians, and fend off the attacks from wall street mega banks.

We're bringing our message to the people; every dollar helps book a community venue, pay for translation, get coffee and bagels for our volunteers, and sustains the long struggle to get public money in public hands for public good.

Please give today, put a deposit on a future that prioritizes people over profits, the planet over the portfolio of the powerful, a future where there's always money for truly affordable housing, a carbon free economy, co-ops, public transit, education and anything we the people decide we need.

Solidarity,
The San Francisco Public Bank Coalition

https://www.sfpublicbank.org/donate.html

07/25/2023

Proposed S.F. public bank gets first review by supervisors Lawmakers could approve a century-old banking concept, untested at the city level, to...

07/12/2023

Join us today to talk public bank and come catch up on all the latest

How a public bank could work in San Francisco

02/24/2023

"San Francisco is a step closer to having the first city-owned public bank in the country, following the release of a plan outlining how one could operate in the city."

How a public bank could work in San Francisco A draft plan released last week lays out a mission to serve the public interest.

Will San Francisco embrace a ‘green bank’?

02/23/2023

With private banks, [Dr. Thomas Marois] said, “we might well get a green transition. But unless we’re able to shape the terms of that democratically, it’s not going to be just. We must have more community say over our own financial resources. So we simply have to build an alternative. And that means democratic public banks. Period.”

This piece is a great resource, detailed and clear reporting and answers questions we often get.

Will San Francisco embrace a ‘green bank’? To realize its climate plans, SF’s government is considering a form of public banking that some argue could hasten The City’s clean energy transition

02/14/2023

S.F. inches closer to creating public bank The long-running effort to create a public municipal bank in San Francisco inched forward...

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Our Story

In March of 2017, the SF Defund DAPL Coalition formed after Seattle’s indigenous organizers pressured their City Council to #DefundDAPL to the tune of $3 billion. They helped support the founding of the “SF Defund DAPL Coalition,” contributing social media attention to help us pack SF City Hall. A few dozen strangers came together in SF City Hall as allies of the #NoDAPL movement, with a few having just arrived back from the raids at the camps. The Coalition packed back-to-back meetings at City Hall, urging the Board to put its money where its mouth is. Within two weeks, the Treasurer implemented a “screen” on Dakota Access Pipeline-related investments.

But the city has not yet divested--no city has. We have to find other banks to hold our money. Credit Unions and other smaller banks are too small, and other Wall Street banks are financing private prisons, other pipelines, weapons of war, and other violent industries. We have to establish our own bank. So, the SF Defund DAPL Coalition transformed into SF Public Bank Coalition--with people from a variety of labor and progressive orgs. In June 2018, we further pressured the Treasurer to convene a Municipal Bank Feasibility Task Force as recommended by the Board of Supervisors (via Resolution 152-17) to identify and pursue opportunities to create a municipal bank. The 16-member task force meets now until November 2018. As the task force meets, we are coalition building, educating, and forming legislative strategies to establish the nation’s first municipal public bank--the final divestment resolution--within the next 5 years.

We want our city’s public bank to invest in:

* Affordable housing/Community-managed (especially Ohlone-managed) land trusts
* Renewable energy
* Public transit, infrastructure, and green space
* Healthcare
* Education
* Small legacy businesses

Videos (show all)

Virtual Town Hall: Closing the Racial Wealth & Financial Access Gap

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Website

http://sfpublicbank.org/

Address

San Francisco, CA

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