Santa Cruz has has a city resolution to divest from oil. However the logistics are complicated – currently there is no where to put the money. PPB Santa Cruz is working to create a public bank that our city can use to divest from oil.
Our charter city is too small to host its own public bank. Our county is not a charter county and cannot currently legally create its own bank. Therefore we are exploring options to work with other cities or counties to create a regional public bank, and are supporting the California Public Banking Alliance work to pass legislation that would enable non-chartered governmental entities to create a public bank.
We have an active local group that meets regularly. If you would like to get involved, please explore our website and contact us!
Client People for Public Banking (PPB) Santa Cruz
Category People for Public Banking (PPB) Santa Cruz
Date 29 August 2017