About
We are the Coalition to Keep Berkeley Money Local. We are a grassroots movement to create a public bank that keeps our money local. Instead of enriching big bank CEOs, we propose that public funds should be re-invested into our local community. A public bank can do that.
A public bank is a publicly-owned institution which puts public money—the taxes and fees we already pay to our governments—to work for our community’s needs. Once established, a Public Bank in East Bay will invest in affordable housing, green energy infrastructure, and local small businesses. The bank's purpose is to serve the public good.
Key Characteristics
A public bank is different from other banks, such as large commercial banks, community banks, and credit unions.
- Serves Public Need: Earnings are reinvested to support projects like affordable workforce housing, green energy and infrastructure, small local and minority owned business, not private profits.
- Run by Professionals: Professionally managed by finance experts, not politicians, ensuring transparency and accountability.
- Economic Partnerships: Collaborate with local lenders to expand access to affordable financing and strengthen local economies.
- Multiplier Effect: Public banks recirculate funds locally, creating a multiplier effect that amplifies investments.
Let's Open A Public Bank
At the start of 2026, the Coalition to Keep Berkeley Money Local drafted a ballot measure in the City of Berkeley to gather funds to open a public bank. We are currently gathering signatures to put this measure on the November 2026 ballot. In doing so, a public bank will make Berkeley and the broader region a place where more families can afford to stay, more entrepreneurs can thrive, and more neighborhoods are resilient.
Check out the full text of our ballot initiative and top funders below.