Mission and Goals
The Public Banking Institute (PBI) was formed in January 2011 as an educational non-profit organization. Its mission is to further the understanding, explore the possibilities, and facilitate the implementation of public banking at all levels — local, regional, state, and national.
Our mission is to inspire, enable, and support Public Bank initiatives, returning control of money and credit to states and communities.
Our vision is that a network of publicly-owned banks will be established that create affordable credit and allow communities to declare independence from Wall Street’s high-risk, expensive, unaccountable private banking system.
They would have a mandate (mission) to act in the best interests of its residents and use their credit-generating ability for community needs, including infrastructure, clean energy, affordable housing and other programs important to the residents.
Public banks can lend when there’s a crisis, shielding communities from the worst of Wall Street’s reckless boom/bust cycles; their profits return to the community, to be reinvested in local needs; and they can create jobs and strengthen the local economy, by partnering with local banks to fund local small businesses.
Our goal: 5 by 2020! We hope to have five Public Banks well on their way to reality by 2020 and for people everywhere to understand how public banking can benefit them. .