Updates
The movement for public banking is gaining unstoppable momentum, from grassroots beginnings to growing community and political support.
The Journey
Richmond Mayor Martinez, City Council Members, and PBEB advocates.
2024
First in the nation milestone: Richmond City Council votes to support PBEB, pledges capitalization funding, and authorizes PBEB’s application for a bank charter. This is the first authorization of a public bank in the United States in more than 100 years.
Nonprofit Quarterly publishes an op-ed by PBEB, advancing public banking efforts and advising on how to start your own local initiatives.
PBEB earns official endorsements from 70+ local nonprofits, unions, grassroots organizations, and political groups including the City of Richmond, East Bay Housing Organizations, Alameda Labor Council, Local Clean Energy Alliance, and Wellstone Democratic Renewal Club.
(Left to Right) PBEB advocates Susan Harman, Royl Roberts, Paulina Gonzalez-Brito, Scott Waite; Berkeley Council Members Rebecca Kaplan, Kevin Jenkins, and Carroll Fife; and PBEB advocate Margie Lewis.
2023
PBEB hires start-up chief executive officer whose credit union experience is valuable in helping create the business plan and build relationships with elected officials.
PBEB raises its first million dollars from local foundations, approximately half of the projected start-up budget.
PBEB announces its initial slate of community-centered candidates to be members of the Board of Directors of the public bank, once approved by the regulators.
Berkeley City Council passes a resolution affirming the city’s intention to join PBEB as a founding member.
25+ local elected officials officially endorse PBEB, representing every jurisdiction we expect to serve.
Hank Levy, Treasurer of Alameda County and PBEB advocates after the Alameda County Supervisors’ vote to help fund PBEB’s viability study.
2022
Richmond and Oakland City Councils pass resolutions affirming their intentions to join PBEB as founding members.
Alameda County Supervisors and Richmond, Oakland and Berkeley City Councils approve the East Bay Viability Study, supporting the establishment of PBEB.
Next City’s Oscar Perry Abello interviews Hank Levy, Treasurer of Alameda County about how PBEB will change the region for the better.
2020-2021
Although the pandemic slows everything down, PBEB incorporates as a 501(c)(3) nonprofit and continues its efforts to recruit community and government supporters.
PBEB begins recruiting for its slate of candidates for the board of directors of the public bank, to be approved individually by the regulators.
Public banking advocates spreading the word at community events.
2019
Governor Gavin Newsom signs AB 857, a landmark law enabling local public bank charters in California.
Berkeley City Council passes resolution in support of AB 857 and PBEB.
Friends of Public Bank Oakland expanded our geographic area and became Friends of Public Bank East Bay, working with Oakland, Berkeley, Richmond, and Alameda County.
Public banking supporters from a small business in Oakland.
2018
Early research is funded by contributions from the cities of Oakland, Berkeley, and Richmond, and Alameda County, affirming the viability and impact of an East Bay public bank.
Berkeley City Council passes resolution to support the public bank.
Hired Gary Findley, a highly respected and experienced banking attorney to advise on the regulatory process.
East Bay resident and advocate in support of the public bank.
2017
Friends of the Public Bank of Oakland holds its first town halls in Oakland City Hall.
Oakland City Council passes a resolution to support PBEB.
The journey begins to form the first public bank in the United States in more than 100 years!
2016
Friends of the Public Bank of Oakland forms as an advocacy organization to establish a public bank to serve the city and the surrounding region.