The mission of The San Francisco Public Bank Coalition is to establish a municipal-owned bank in San Francisco rooted in principles of racial, social, economic, and environmental justice.
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San Francisco Public Bank Coalition is a coalition of individuals from many organizations (SF Defund DAPL, SF Berniecrats, ACCE, DSA SF, SF Tenants Union, & California Faculty Association-SFSU) that is demanding San Francisco divest its approximate $11 billion dollars of tax payer money from private banks and put it into a State-Chartered, city-owned, partnership public bank.
In March of 2017, the SF Defund DAPL Coalition formed to push the Board of Supervisors to pass a resolution urging the Treasurer to screen out Dakota Access Pipeline-related investments. One month later, the Board of Supervisors passed Resolution 152-17 to identify and pursue opportunities to create a municipal bank. This prompted the Treasurer to convene a Municipal Bank Feasibility Task Force as recommended by the Board of Supervisors The 16-member task force meets from February 2018 to November 2018. In the meantime, we are coalition building, educating, and forming legislative strategies to establish a public bank within the next 5 years.