Update: May 2024
State Senator Samra Brouk and Assemblymember Harry Bronson have introduced the Bank of Rochester Act (S9326) to support community-led development and foster economic stability in Rochester!
"Public banks help to bring equity, justice and fairness into our economy. They are powerful drivers of economic investment that demonstrate direct impact by strengthening local economies, supporting community driven economic development programs and addressing infrastructure and housing needs for localities - all without negative impact to existing financial institutions.
I am proud to sponsor the Rochester Public Banking Act in the Assembly which will establish a Rochester public bank in one of the most underserved cities in the state. This legislation has the support of my fellow Rochester lawmakers, the Mayor and City Council, and is an important step forward to making public banking accessible throughout New York State." - Assemblymember Harry Bronson
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State Senator Samra Brouk, flanked by Assemblymember Harry Bronson, and ROC Public Banking Coalition's Mellissa Marquez announces sponsorship of the Bank of Rochester Act
Public Banking Explainer video: Learn more about how public banking works in this video
We're part of a growing New York State movement working to pass legislation to establish public banks that work in the public interest. Join us.
Public banking is a proven model that:
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keeps public money in the community for affordable housing, small businesses, and other local needs
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makes your money work for your community, rather than multinational banks, unaccountable to the community, and often serving interests that have historically exploited the community through redlining, fossil fuels, and the privileging of larger conglomerates over small businesses
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provides transparency and accountability to the community rather than shareholders
There are currently efforts at the State level in New York, as well as at the local level, in NYC, Philadelphia, LA, and around the country. We're representing Rochester and hope you will too.