Public Banking Promotes Local Growth
Public Banking for Municipalities
As cities and towns struggle with declining tax revenues due to the Covid-19 pandemic it’s vital that every budget dollar go as far as possible. Learn how a public bank can provide flexible and lower-cost financing for infrastructure, public safety, recreation, and open space.
Public Banking for Small Business
Community development corporations and community development financial institutions work every day to address needs of local economies and economic justice. Learn how a public bank can finance projects that expand opportunities for small business and the creation of affordable housing.
Public Banking for Community Banks
The mission of the Massachusetts Public Bank is to partner with and strengthen existing Massachusetts financial institutions, not to compete with them. Our bill mandates that the bank “shall seek to complement and support the operation of” Massachusetts banks and other existing institutions, a model based on the 100-year-old Bank of North Dakota’s approach to public banking.
Public Banking for Social and Economic Justice
A central goal of the Massachusetts Public Bank is to address the inequities that have left many communities, small businesses, small farms and other enterprises without access to affordable financing. The Bank can expand affordable financing in traditionally underserved sectors of the state and help stabilize the economy in this era of COVID-19 by expanding the lending capacity of local financial institutions that serve those sectors.
Public Banking for Farms, Food & the Climate
The high cost of land is a hurdle for new farmers. Expanded financing opportunities for land trusts can enable the preservation of existing farmland and ensure that local food becomes more available and affordable.