Left: Bellingham, WA. Photo by Jordan Steranka. Right: Truckee, CA. Photo by David Barajas.
Bellingham, WA, and Nevada County, CA, are the latest municipalities to support or examine public banking solutions. Bellingham’s City Council voted unanimously in December to draft a resolution in support of a Washington state-owned bank and explore the benefits it could offer Bellingham. The vote followed a persuasive presentation by WA Senator Bob Hasagawa who told the Bellingham Business Journal, “I have given presentations all over the state and the idea resonates across the political spectrum.” Watch Sen. Hasagawa’s full presentation here.
In California’s Nevada County, Sam Corey reports in The Union that Grass Valley resident Rick Robins of Main Street Forum NC is looking for bankers to help build a business plan for a local public bank. Though not an expert himself, Robins is a long-time advocate of public banking and now that CA’s Public Banking Act has been passed, he wants the county to examine how they could bring those benefits to its residents. Robins explains that a public bank would enable local banks to extend more credit for purposes that benefit the community, such as “making homes energy efficient, fire abatement, student loans for local classes, the cannabis industry or whatever locals find important.”