Nonprofit Quarterly Features Public Banking in California
CPBA Admin
January 16, 2025
Nonprofit Quarterly Highlights Public Banking—California & Beyond
We started the year off strong with two features in The Nonprofit Quarterly! Check out the trilogy of public banking articles: two from the California movement and the third from New York.
1. California’s push for public banking rewrites local finance. By breaking Wall Street’s grip, these banks tackle community needs–stabilizing neighborhoods & funding home-grown solutions. The revolution is local. Trinity Tran with the Alliance and Public Bank Los Angeles writes for NPQ. Read the article here.
2. From Public Bank East Bay in NPQ: Why let Wall Street hoard public funds? California’s movement is breaking the “public funds, private profits” pipeline, creating banks that invest in affordable housing, small businesses & clean energy. Read the piece here.
3. Andy Morrison with Public Bank NYC in NPQ: What does “finance for the people” look like? It’s public banks that work for communities, not shareholders. New York is building a future where public dollars fund progress, not Wall Street greed. Read the article here.
California is proving what’s possible when communities demand a financial system that works for them. These articles capture the vision, the action, and the urgency of this movement.
Let’s keep building.
California is proving what’s possible when communities demand a financial system that works for them. These articles capture the vision, the action, and the urgency of this movement.
Let’s keep building.
Rebuilding and Resilience: California Needs Public Banks
Our thoughts are with those affected by the wildfires in Southern California, the families displaced, the communities impacted, and everyone still waiting for safety and relief. Los Angeles, we see your resilience in the face of this devastation.
As California faces another catastrophic wildfire season, we’re reminded how vulnerable our state is to natural disasters. Members of the Alliance have experienced the effects of these fires firsthand, making it clear that none of us are exempt from the damage caused by the climate crisis. From the projected $250 billion in damages in LA alone to the thousands of families displaced, the need for real solutions has never been clearer.
We need public banks in California to invest directly in wildfire prevention, rebuilding homes and infrastructure, supporting small businesses in their recovery. Instead of local governments issuing expensive bonds, wasting millions in interest payments to Wall Street banks, we can keep public dollars working here, where they’re needed most.
A public bank also gives us the tools to invest in long-term climate resilience: renewable energy, sustainable housing, and infrastructure that can withstand the growing impacts of climate change. This is about more than recovery, it’s about building a California that’s ready for the challenges ahead.
If you’re thinking about starting a public bank in your city or region, take a look at our organizing and technical resources. Let’s join forces to create community-owned banks that truly invest in the people and neighborhoods that need it most. Reach out anytime—we’d love to hear from you: info@capublicbanking.com.
