Vermont Public Banking Effort Underway
Published on August, 30 2022
By Marybeth Gardam
Women, Money & Democracy Committee
September 2022
The Women, Money & Democracy Committee of WILPF US hoped that its first two Public Banking Learning Circles would attract a large number of people wanting to learn more about what a public bank is, how it works, and how it can benefit women, families, peace, the environment, economically depressed communities, small businesses and communities of color. The first series in 2021 went so well that another was held in 2022. When more intimate groups of 10 to 15 women gathered, there was the opportunity to get to know one another better and for everyone to benefit from the facilitators’ experience: Susan Harman of the Public Banking Institute and California Public Banking Alliance, Rickey Gard Diamond founder of An Economy of our Own, author of Screwnomics and MS Magazine columnist, and Marybeth Gardam Chair of WILPF’s Women, Money & Democracy Committee.
Over a 6-session series, facilitators offered impressive tools and resources: The WILPF US Public Banking Toolkit, videos, and collaborations with An Economy of Our Own and California Public Banking Alliance. They explained the public banking movement, and brought together women who admitted they didn’t know much about public banking, but agreed that the for-profit commercial Wall Street banks are ripping people off left and right.
During this session, a happy accident brought together five women from Vermont who shared an interest in transitioning to a more equitable economy. They gained momentum because of another chance coincidence– an upcoming run for State Treasurer. A few years ago, there was a vibrant and hopeful public banking movement in Vermont under the leadership of Gwen Hallsmith, an economist and author. But efforts were impeded by the previous Vermont State Treasurer. The five women from our Learning Circle now have the tools and resources necessary to do the relationship building and outreach across Vermont to convince incoming candidates for State Treasurer to consider the wisdom of a Vermont Public Bank. They’ve set out to do just that, with continued mentoring and advice from the Learning Circle guides.
They’re holding weekly organizing meetings in preparation for the November elections and meeting with all the candidates and influencers. They are reaching out to allies whose dreams for environmental solutions, public education funding, affordable housing, small business support and affordable student loans will benefit from public banking. You can see how they are doing by tuning in to their Friday half hour “PUSH” meetings at 7:30 pm EST, joined by Vermont legislators and influencers! Here’s the zoom link to tune in.
The group will hold an in-person gathering on October 7th at the Pavilion Building of the Vermont State Capital in Montpelier called MONEY MATTERS: WOMEN and TRANS THERAPEUTIC JOURNEY OF FINANCIAL FREEDOM, which will include lunch and lots of amazing panels and workshops. The event is produced in collaboration with the Vermont Kindness Project and is co-sponsored by WILPF US and An Economy of Our Own, among other allies. The women are also planning a statewide zoom forum on public banking to put their hopes and ideas before the whole state. Local leaders are Shanda Williams and Jaqueline Reike, Learning Circle graduates and women on fire about economic justice in Vermont!
All in all, the Women, Money & Democracy Committee is pretty pleased with this outcome. They’d love to see the same kind of informed and motivated cohort grow in every state. The WMDC Committee is working with An Economy of Our Own to create Public Banking Learning Circles “packages” with resources and Facilitator Packets, so that activists can mount their own organizing and educational efforts in every city and state. If you are interested, contact wmad@wilpfus.org.
