Resource: Pennsylvania Public Bank Project

September 15, 2015

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The Pennsylvania Public Banking Project, a 501(c)(3) nonprofit organization, is now working across the commonwealth and in Pittsburgh to demonstrate and eventually bring to fruition the benefits of public banking.

A well-run public bank, such as the Bank of North Dakota, can deliver a higher return on equity than most other investments a government or authority can make, and a much safer return to boot. And this return comes back to the community that owns it, not to some Wall Street hedge fund for gambling on derivatives or paying stratospheric salaries.

Public banks keep local money working locally by partnering with and not competing with local banks and economic development agencies. They make affordable, job-creating credit available for private or public/​private developments and municipal financing.

Video from Pennsylvania Public Bank Project and the Public Banking Institute’s community symposium on national public banking in Philadelphia, PA.

Public banking in Pittsburgh could help build a stronger community, upgrade crumbling infrastructure and shore up the economy, providing better-paying jobs and greater opportunities for the graduates of this region’s exceptional schools and universities.

Learn more about this resource: Pennsylvania Public Bank Project

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Resource: Public Banking Institute

September 15, 2015