About

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Who Are We?

The Philadelphia Public Banking Coalition is a group of non-partisan volunteer citizens on a campaign of public education and civic action to achieve the creation of a public bank in Philadelphia. Our goal is to provide the sustainable and affordable credit needed by families, individuals, businesses and municipalities to power regional prosperity and reestablish a democratic economy.

We are part of a national movement for Public Banking under the umbrella of the Public Banking Institute.

What is a Public Bank?

Public banks are designed to assure the long-term prosperity of the community, investing in education, public health, jobs, housing and sustainable development through locally owned co-ops, small businesses and green infrastructure projects.

In contrast, private banks are accountable only to the shareholders who seek short-term profits and often maximize returns through risky and harmful investments such as in private prisons, gentrification and dangerous fossil fuel infrastructure.

Public banks are popular all over the world. The US currently has two public banks — in North Dakota and US Samoa. Several states and a growing number of cities have already started down the path to establish their own public banks.

A Public bank is chartered by the state, and mandated to serve the values and needs of the community. It is protected from political self-dealing because experienced, qualified bankers – not the government – make specific lending decisions and provide accountability and transparency to the public on how the money is spent.

The Case for a Philadelphia Public Bank

Public Banking Sweeps Across The Country