Moving our money to smaller and more local and ethical financial institutions is a means to stimulate and strengthen local economic ties within the community, which will ultimately improve the local economy and foster community cohesion. The City of Corvallis should move their money out of to-big-to-fail Wall Street Banks like Wells Fargo. You can also email your Council Member directly, click on this link to identify your Council member and email them: http://www.ci.corvallis.or.us/index.php?option=content&task=view&id=779&Itemid=765
Move Our Money Local
We compel you to do the following:
• Examine the necessary steps, potential barriers and ways to over come identified barriers, as they relate to moving the City's money into local credit unions and small local banks that invest in the community
• Establish guidelines and criteria that prioritizes local economic and social interests, such as level of financial investment in local businesses and community resources, for future and current requests for proposals related to city government asset deposits
• Actively seek input from community members and local businesses when developing such criteria
• Examine the economic as well as the social benefits of moving our money to local financial institutions
• Re-examine existing contracts with banks to determine the feasibility of ending these contracts
• Examine the banks where the city currently holds accounts, and determine how or whether their operations and practices would align with the newly proposed RFP criteria.
• Report relevant finding back to the public within a prescribed deadline, along with a public forum so that the community can respond to the report
Moving our money to smaller and more local and ethical financial institutions is a means to stimulate and strengthen local economic ties within the community, which will ultimately improve the local economy and foster community cohesion.