Statewide VT Public Banking Forum

And why it matters for YOUR State

Friday, October 14, 7:30 pm

Join Zoom Meeting here.

Women trained as advocates for local public banking efforts are gaining strength in Vermont. WILPF US has been planting these seeds.

Your attention and support can help the movement grow in Vermont.

Recently, when the Women, Money & Democracy Committee of WILPF US and its partner, An Economy of Our Own, presented the second of two national Women’s Public Banking Learning Circles, five women from Vermont met together to talk about what public banking could mean in their state and how to make it happen.

They’ve been organizing strategically ever since and hope to see some movement in the next few months. They know, of course, that it will be a long effort to get public banking on the legislative docket. On this statewide forum local leaders, Jaquelyn Rieke and Shanda Williams, are working with local activists, legislators, and folks like you to make the issue better understood in Vermont. 

Please plan to attend and participate. In preparation, you can review the materials below. 

The FREE virtual event is in collaboration with An Economy of Our Own and the California Public Banking Alliance. 

Attend this FORUM to learn more, support the effort, and explore public banking in your state:

• You’ll learn why public banking matters and how it could save Vermont (or any state) millions of dollars in out-of-state fees and management costs that go to big Wall Street Banks.
• Find out how public banking keeps local money local and available for low-interest student loans, low-cost mortgages, affordable housing projects, small business loans, community development projects, and much more.
• Learn from national experts why public banking is growing across the US, and how to advocate for it in your city and state.

What You Need to Know About the New Vermont Public Banking Initiative

Check out this very short video for an engaging overview.   

Vermont had a public banking initiative a few years ago – which came close to success but eventually went nowhere, thanks to a (then) new State Treasurer. She was more interested in creating small financial distribution centers, that chose winners and losers among small businesses, than a system that would benefit everyone.

Economist, author, and WILPF member, Gwen Hallsmith, led the initial public banking effort. Now that State Treasurer’s term is over and a new one is being elected in November. There is new optimism for a Vermont Public Bank’s chances for success. Your attention and advocacy could help!

Public banking – as an alternative to big Wall Street banks – means local state and city dollars remain local. With public banking, capital is invested in causes championed by women, families, peace and environmental activists, economically depressed communities, small businesses, and communities of color. 

The Bank of North Dakota is the only existing public bank in the US (though several are being planned in other states now). The Bank of North Dakota is over 100 years old. In 2008 it provided stability to protect the state from the financial crash. ND was the only state that did not experience huge foreclosure and bankruptcy rates. 

The WILPF and AEOO Learning Circles in 2021 and 2022 engaged collaborators from An Economy of An Economy of Our Own Own and California Public Banking Alliance and offered impressive tools and resources:  

• The WILPF US Public Banking Toolkit
• Informative short videos that sum up public banking in powerful ways.      

The two six-session series brought together women who, though they admitted they didn’t know much about public banking, agreed that the for-profit commercial Wall Street banks are ripping people off left and right. By gathering intimate groups of 10 to 15 women, everyone could exchange more information and benefit from the facilitators’ experience.

The series featured Susan Harman of the Public Banking Institute and California Public Banking Alliance; Rickey Gard Diamond, founder of An Economy of our Own, MS Magazine columnist, and author of Screwnomics; and Marybeth Gardam, Chair of WILPF’s Women, Money & Democracy Committee.

The series went so well the first time in 2021 that a second series convened in 2022, concluding only recently.

WILPF’s Women, Money & Democracy Committee is working with An Economy of Our Own to package Public Banking Learning Circles with resources and Facilitator Packets. By this time next year, activists can mount their own organizing and educational efforts in their own city and state. If you are interested in helping with this project, contact wmad@wilpfus.org.