Keep More of Oregon's Wealth in Oregon! (With a state bank!)

Too much of Oregon’s wealth is lining other people’s pockets. The big multinational banks that hold our taxpayer dollars are the ones making money off our money! Oregon needs to borrow a play from North Dakota’s playbook. Oregon needs a state bank. Oregonians deserve to see their money reinvested in their communities, not sent out of state to enrich shareholders somewhere else.

Over a century ago, the farmers and ranchers of North Dakota stood up to the banks and railroad companies that were exploiting small family operations. By creating the Bank of North Dakota, they declared that the state’s money should work for the state. By backing local banks and credit unions, the Bank of North Dakota keeps interest payments in the state, gives farmers and entrepreneurs the funds they need to stay modern and competitive, and protects home buyers from predatory lenders. It has been profitable for its entire 107-year history, putting $240 Million into the state budget last year. Not bad for a state of just 800,000 residents. Imagine what Oregon, with 5 times the population, could do. 

Oregon deserves a state bank. With our state money backing our local banks, we can help first time buyers realize the dream of home ownership, give businesses and farms the funds they need to modernize and survive market shocks, and protect our public funds from the next national bank closure. Our interest payments should be paying for our schools and roads, not some CEO’s vacation home.