People for Public Banking Central Coast (PPBCC) is a group of local citizens leading an effort to establish a regional public bank for the California Central Coast. Because no city or county on the central coast is large enough to easily establish its own public bank, a regional public bank will best suit this conglomeration. Potential participating areas include Santa Cruz, Monterey, San Benito, San Luis Obispo and Santa Barbara. The regional public bank would serve cities, counties and special districts (such as water districts), but would not be a retail bank for individual customers. PPBCC is a chapter of the California Public Banking Alliance.

PPBCC was started by a group of Women’s International League for Peace and Freedom (WILPF) members. We are strongly supportive of Black Lives Matter and other movements for racial, social and environmental justice. One of the primary motivations for the establishment of a public bank is to address social inequities in our communities; public banks keep local funds in our communities, rather than letting our dollars get siphoned out to corporate Wall Street banks.

What is a public bank? Learn more…

Current Status (February 2023):

At this stage, we are currently conducting a viability study. We are optimistic that the results will be in favor of establishing a public bank for the central coast. In the meantime, we are continuing to reach out to county and city council members and rallying even more support for the movement.

So far, the following three counties and nine cities have agreed to share the funding for the $150,000 viability study for a regional public bank: County of Santa Cruz, County of Santa Barbara, County of Monterey, City of Santa Cruz, City of Watsonville, City of Scott’s Valley, City of Del Rey Oak, City of Capitola, City of Seaside, City of Marina, City of Salinas, and City of Monterey.

Santa Cruz County has taken the lead and assigned J. Peter Detlefs, Principal Administrative Analyst to the project. Peter has completed the Request for Proposals (RFP) from consultants qualified to prepare the viability study. He is currently getting the paperwork done by all participants to arrange for them to pay their share.

Read on…

“Updates From Around The Country Show Substantial Progress In The Public Banking Movement In The U.S.” – Public Banking Institute, 01/26/23
“Viability Study Conducted by Public Bank East Bay” – Public Bank East Bay, March 2022
California AB 857 Public Banking Act – signed into law in October, 2019.

Want to get involved?

We have an active local group that meets regularly. If you would like to get involved, please contact us.

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