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Why a Public Bank in Vermont?
OUR BROKEN BANKING SYSTEM
Our tax dollars are invested in projects that are bad for our state and our planet like the Keystone XL, Dakota Access and Vermont Gas Systems pipelines.
Vermont pays $80 million in yearly interest and fees to corrupt Wall Street Banks.
With a daily holding of $350 million dollars VT’s state budget is supporting bad actors instead of working to meet the $28 billion in unmet financing for renewable energy projects in our state.
WE NEED A STATE BANK FOR
Taxpayers — who will benefit from both the profits the bank makes and the services the bank offers. Over time, a public bank would turn the $80 million in yearly in outflow to bondholders into $100 million state revenues.
Our Planet — a VT state bank can provide the game-changing, long-term, low-interest financing that will power a transition to a just and sustainable future.
Students — to access low interest education loans.
Homeowners — to get mortgages and home loans from the bank.
Entrepreneurs — who need credit lines, loans, and other forms of finance to help their businesses succeed.
Municipalities – the bank can offer competitive interest on public deposits and lower cost financing for public works.