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MISSION AND VISION

The Public Bank NYC Coalition believes public money should work for the public good, not private gain.

 

The City of New York places billions of public dollars in Wall Street banks that routinely exploit
and extract wealth from low-income communities and neighborhoods of color, perpetuating
racial and economic inequality. Through a public bank, New York City can support vital sectors
of our local economy and divest from banks that are financing destructive corporate interests,
including speculative real estate, private prison and immigrant detention companies, the global
arms trade and the fossil fuel industry.

 

We are pressing for the creation of a public bank for NYC, as part of a broader vision for
economic and racial justice. An NYC public bank must:

 

  • Make equitable investments that support low- and extremely low-income housing, union
    and living wage jobs for New York City residents, democratically-controlled clean energy,
    public infrastructure, cooperative ownership, and small businesses, prioritizing minority and women-owned businesses and locally-based enterprises.

  • Foster community wealth-building and neighborhood-led development, including by financing cooperative, not-for-profit and non-speculative models that provide long-term
    public benefit.

  • Expand high-quality, affordable financial services to low-income and immigrant communities and communities of color, by partnering with nonprofit and mission-driven community development financial institutions, especially community development credit unions.

  • Promote transparency and accountability in municipal finance, including by providing
    comprehensive, non-extractive banking services to New York City and New York City
    agencies.

 

We believe a public bank, with a clear mission to serve critical neighborhood needs, will help achieve economic security and shared prosperity for all New Yorkers.

 

Please contact Andy Morrison at New Economy Project to learn more: 212-680-5100, ext. 210.

Members:

350NYC

A Bookkeeping Cooperative

Action Center on Race & the Economy (ACRE)

Association for Neighborhood & Housing Development (ANHD)

Brooklyn Cooperative Federal Credit Union

Brooklyn Stone & Tile
Carroll Gardens Association

Center for Family Life
Chhaya CDC*
Citizen Action of New York
Communication Workers of America - District 1

Communities Resist

Community Service Society of New York
Cooper Square Committee

Cooperatives United for Sunset Park 

East New York CLT Initiative

Food & Water Watch
Freedom to Thrive (FKA: Enlace)
Green Worker Cooperatives
 
Hopewell Care Child Care Cooperative
Housing Conservation Coordinators 

Inclusiv

Legal Services Staff Association - LSSA 2320
Lower East Side People’s Federal Credit Union

Metropolitan Council on Housing

Minkwon Center for Community Action

Mobilization for Justice
Murphy Institute

Neighborhood Trust Federal Credit Union 
New Economy Project*

New York City Black Chamber of Commerce
New York Communities for Change*

New York Immigration Coalition

New York City Network of Worker Cooperatives (NYCNOWC)
New York Public Interest Research Group (NYPIRG)

NYC - Democratic Socialists of America
No New Jails NYC

Pan-African Community Development Initiative
People's Climate Movement NY

Picture the Homeless

Sane Energy Project
South Bronx Unite

Strong Economy for All
Sunrise Movement NYC

The Black Institute

The Bushwick Food Cooperative

The Debt Collective

The Drivers Cooperative
The Working World

United Auto Workers - Region 9A
University Neighborhood Housing Program
West Side Neighborhood Alliance 

Western Queens Community Land Trust

* Denotes membership in steering committee (in formation)

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