- The Public Bank Coalition, as a Social Enterprise, is a revenue-generating business with primarily social objectives of Revitalizing Rural Canada. Our surpluses are reinvested to achieve our mission and to achieve the social purpose in the rural Canadian communities, rather than being driven by the need to deliver profit to shareholders and Project members.
- PBC Canada applies an entrepreneurial approach to addressing social issues of rural depopulation and the devastation of the small business environment in the towns and villages of Canada. The Coalition seeks to create positive community change, rebuild the rural infrastructure, increase rural social services and protect the rich rural culture of our nation.
- PBC Canada is engaged in the training and/or employment of people who are typically excluded from the mainstream agricultural economy in Rural Canada, thus creating capacity and self-sufficiency for non-big farm and service agriculture individuals, families and small business by impacting their community’s opportunity profile directly and in lessening reliance on the social safety net.
WHAT IS PUBLIC BANKING?
Public banking is banking operated in the public interest. Public Reserve Banks are organized as Financial Non-Deposit Investment Cooperatives. Public banks in Canada are part of the sustainable cooperative green movement. A Community Reserve Bank is owned locally by the co-op members. It operates within a defined geographic area called a Currency Union District and is focused upon investing in young entrepreneurs, innovation, technology, sustainable green fresh food farms and community infrastructure. . . . Read more –>
WHY FINANCIAL COOPERATIVES?
Rural Canada is dying. Rural communities, towns and villages are losing population, services are disappearing and there are diminishing business and employment opportunities. Young people must move away to start their adult lives. At the same time, our present financial infrastructure is either over specialized, focusing on agriculture or some other solitary industry. Big Banks and Big Credit Unions are overly efficient at extracting capital and savings away from rural community decision-makers to benefit other remote regions of the world and singularly inefficient at introducing capital back into local rural small business and infrastructure needs.. . . Read more –>
COMMUNITY RESERVE BANKS
A CRB encourages a rural community’s cash to stay at home to benefit ourselves! Rural communities, when invested with a Community Reserve Bank, would be able to live long and prosper. Commercial Banks and Credit Union business would be enhanced, community fees and interest costs drop, and individual savings and investments are magnified through local public bank profits being reinvested into our own communities. . . . Read more –>
TEN KEY FACTS OF PUBLIC BANKING
Public Reserve Banks:
- Are owned by the people, co-op members, who live within the local Currency Union District;
- Are integrated into a national banking network with access to Bank of Canada reserve currency,
- Are required to benefit the public by serving local community needs;
- Can save townships, municipal and local governments millions or even billions of dollars, by cutting out middlemen and private shareholders, eliminating fees, and financing projects at lower interest rates; . . . Read more –>