Take Action – Testify at the City’s Budget Hearings

Public Banking Momentum in Philadelphia

Dear Friends of Philadelphia Public Banking,

On March 17th, after years of organizing, and with the help of Councilmember Derek Green, legislation creating the Philadelphia Public Financial Authority (PPFA) – the precursor to a Philadelphia Public Bank – became law in our City!

We need your help to insist that the City Budget include the $3 Million that the Philadelphia Public Banking Coalition and Councilmember Green deem necessary to get the Financial Authority up and running in the next fiscal year. 

$3 Million Needed to Fund the Philadelphia Public Financial Authority

With $3 million the Authority’s Board of Directors will hire staff to:

• Manage an anticipated loan fund of $75 million to direct investment into economic growth areas of unmet credit needs;
• Pursue the chartering of a public bank and other financial entities that will further grow a more just economy for the City;
• Realize a return on investment sufficient to support the go-forward operations of the Authority; and
• Promote a culture of transparency and justice in the management of City finances.

You will find the tools you need to reach out to Councilmembers and the Mayor in this Advocacy Toolkit. We are focusing our lobbying efforts on the week of May 19-26. 

Sign-up to testify in the City’s budget hearings on May 24th requesting $3 million to fund the PPFA. Speakers interested in providing public testimony virtually should call 215-686-3407 or email Budget.Hearings@phila.gov by 3 p.m. on Monday May 23rd submit the following information:

• Full name
• Callback telephone number where you can be reached
• Identify that you are testifying on  Bill #220286 relating to the City’s Operating Budget

If you want to testify but you aren’t sure what to say, please reach out to Stan Shapiro, shapsj@comcast.net