How would a Public Bank be run? Glad you asked.

Values of a Public Bank - Oakland

 

Community members and public officials alike often ask how would a Public Bank be run? In true keeping to the nature of "public", ultimately, the structure of a Public Bank is the responsibility of the community to actively decide. The values of the community it serves would be reflected in the charter of the Public Bank.

Determining those values could include surveying the population and voting on the bank's principles.

As one example, the Oakland advocacy group Friends of the Public Bank of Oakland has completed a comprehensive bank governance document put together by its governance committee. Their proposed Oakland Public Bank policy outlines:

  • Strong progressive values
  • A Board of Directors with a majority of members drawn from the community, as well as representation from various experts
  • Board decisions by consent, rather than simple majority rule
  • An Academy to train Directors (based on the practice of the Sparkasse public banks in Germany)
  • Expansive and community-centered loan policies

[Read the full document here]


connect

get updates