Establish a Public Bank of Santa Rosa
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We, the undersigned, represent a broad range of individuals and organizations with a common interest in developing the economy of Santa Rosa as the financial hub of the North Coast by establishing a public bank.
We recognize that access to affordable credit to fund local small businesses, build affordable housing and improve public infrastructure continues to be constrained due to lack of affordable credit being offered by the Wall Street banks.
Furthermore, our public tax and fee revenues are being deposited in private banks which use that credit to benefit the interests of private bank shareholders, not the citizens to whom that money belongs. Because public banking specifically addresses these concerns, we request that the City of Santa Rosa fund a study to determine the economic impact of divesting from private banks and placing public deposits in the city’s own public bank.
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