Public Banking Alliance
Local People, Banking & Enterprise
The Public Banking Forum of Ireland (PBFI) was established in 2013 to address the urgent need for an Irish banking system that serves the public interest and to promote the Public / Community bank solution.
The alternative banking force will comprise a network of new regional Public Banks in Ireland, along the lines of the German Sparkassen banking model. The new Public Banks will combine with Credit Unions and Post Offices, using their existing branch infrastructure to avoid duplication. In addition, there will be a Central Service Provider (CSP) to support the new Public Banks. SBFIC (German’s Savings Banks Foundation for International Cooperation) has estimated that the Public Bank network can be established for a once off sum of less than €150m.
“Public Banking” is a term to describe all forms of public / community / cooperative banking that can bring sustainable, transparent and risk averse banking to Irish citizens, SME’s and Micro Enterprises.
The Public Banking Alliance is made up of 2016 General Election Candidates who support the Public Banking initiative, i.e. to introduce a comprehensive Regional Community Banking System to Ireland.
With the the main objectives:
* Supporting Small Businesses and families
* Strengthening and empowering communities
* Providing safety for depositors
When banks extends loans to their customer, they create money by crediting their customer accounts. This control and power should not be in the hands of a few CEOs of the private commercial banks!