I want to remind my Portland readers that David Korten will be speaking tomorrow night (Saturday) at the First Baptist Church at 12th and SW Taylor. There is a community celebration starting at 5pm, David’s presentation at 7pm and we step outside for the Starlight Parade after the talk. It should be a fun evening. Please bring your family and friends to learn about, discuss and implement the new economy.
The Sustainable Business Network of Portland (SBNP) is beginning a campaign to get people to move their money from multi-national banks designed to serve shareholders to local banks designed to meet community needs. I recently moved my daughter’s college fund CD from WAMU/Chase to Albina Community Bank and ShoreBank Pacific.
SBNP used three simple questions to help you gauge how your bank relates to your community.
- Is your money rooted in your community? (The more a bank operates in multiple communities, the less commitment they have to yours).
- Who owns your bank? (Where do the profits go and who controls it?)
- Do your deposits create good loans in YOUR community? (This can range from progressive lending policies to help underserved communities to predatory/subprime lending.)
Needless to say, the major banks all scored low on this assessment. Moving your money to a community rooted bank will help your business community thrive.