Vote YES on Measure Z

A Public Bank for Berkeley

Berkeley's priorities are under threat from the banks, corporations, and D.C. politicians controlling our money. Federal cuts have undermined our ability to provide truly affordable housing and have clawed back the funds that were supposed to go towards building healthy and resilient communities. Small businesses are struggling to access the capital and support they need to thrive. Meanwhile, Wall Street banks capitalize on our city's funds to invest in war, data centers, fossil fuels, and making billionaires richer. Berkeley deserves a better way to invest its money. 

One Bank. Three Priorities. Built for Berkeley.

Measure Z creates Public Bank East Bay, a public institution that invests Berkeley's own money back into the community that generated it, with a mandate focused on:

  • Affordable & Workforce Housing

  • Green Energy & Infrastructure

  • Local Small Businesses 

Unlike a private bank, Berkeley is an owner. The community holds seats on the bank's board, reviews its books, and has direct input into what it funds. And when the bank turns a profit, that money comes back to Berkeley — not to Wall Street shareholders.

Now is the time to invest in resilience.

Now is the time to keep Berkeley money local.

Now is the time to create a public bank for Berkeley. 

Vote Yes on Measure Z on or by Tuesday, November 3rd. 

 

 

Leaders Say Yes on Measure Z

Malia Cohen Jesse Arreguin
Hon. Malia Cohen
CA State Controller

Hon. Jesse Arreguín
CA State Senator & Former Berkeley Mayor

Alameda County Democratic Party

Berkeley NAACP

[SEE OUR FULL LIST OF ENDORSERS]

[BECOME AN ENDORSER]

 

Why Berkeley Needs a Public Bank

Every year, Berkeley deposits millions of dollars in taxes and fees into private banks like Wells Fargo. Those banks lend that money out to whatever generates the highest return for their shareholders including fossil fuel companies, private prisons, and weapons manufacturers.

Berkeley voters already said no to private banking once: in 2017, the City Council voted to move Berkeley's money out of Wells Fargo over the bank's investment practices. But in 2023, the city had to extend its contract with Wells Fargo anyway, because no real public alternative existed.

Measure Z creates one.

 

Real Benefits for Berkeley Residents

  • Local Resilience: As federal funding for housing and climate programs are cut, a public bank gives Berkeley a homegrown source of capital the city itself controls.

  • Community Investment: Public deposits become the foundation for loans, which are redeposited and loaned again,so the same public dollars support far more local investment than if they were simply spent once.

  • Transparency & Accountability: Board meetings are open to the public. Annual reports are public. The bank answers to Berkeley voters, not shareholders.

  • Savings for the City: Every dollar Berkeley currently pays in banking fees to Wall Street is a dollar that could instead stay in the city's budget.

Curious about the tax rate, the timeline, the safeguards? See How It Works →

Also, check our FAQ page for more answers to commonly asked questions.