A State Bank of Oregon, modeled on the State Bank of North Dakota, will be under consideration by the legislature this year.  A State Bank would take the state’s money (around $60 billion) and return the interest to the Oregon rather than sending it to New York hedge funds or overseas investors.  It would also guarantee loans for farmers and small businesses in the state.  Currently North Dakota is the only state with a bank of this type but it’s worked well for them since 1919.  A proposal like this requires some thinking, and here’s some fodder to think with…

Hear our KPOJ spot in support of an Oregon Bank

Oregonians for a State Bank- Coalition of businesses and individuals in favor of a state bank.  Their website gives a good overview of the whole program.

Barbara Dudley outlines the need for a State Bank

Basics from Wikipedia on North Dakota’s State Bank

How the nation’s only state-owned bank became the envy of Wall Street- Mother Jones article by Josh Harkinson

‘Socialist’ bank is thriving during economic downturn- Includes video about the North Dakota State Bank

SIGN THE PETITION FOR AN OREGON STATE BANK HERE!

A State Bank of Oregon would be a huge step toward our ability to build a local, sustainable economy, and to reduce the amount of money sucked out of our state to private interests.  Please look over some of the above information, and then sign the petition if you’re so inclined.  Your voice matters!