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.
Learn more about this resource: Pennsylvania Public Bank Project