Common Good Finance: creating Common Good Bank(tm) communities

Everyone Wins

Common Good Bank communities are good for everyone, with benefits to individuals, businesses and the community. Here is a list of some of the benefits (see also this example):

Good for YOU

Better rates on deposits and loans
Lower fees
Affordable stock, with a predictable return
Local rebates
Cash withdrawals in every nearby town
Free checking, ATM cards, online banking, automatic reserve credit
State-of-the-art security

Good for YOUR BUSINESS

Focus on small business lending
Supports cooperatives and local start-ups
Funding for economic development
Local debit/credit cards - no fees, immediate deposit to your business account
Advertises your business 24/7
Promotes "buy local"
Attracts customers

Good for EVERYONE

Committed to the common good of all
LARGE contributions to the community, even in the first year
Extra funding for food pantries, the arts, education, social services, sustainable agriculture, economic development -- as determined by the members
Empowers those most in need -- near and far
Member participation in decisions builds community, cooperation and security
Innovative support for local economics
Will restructure corporations for sustainability and dedication to the common good
Sensible, compassionate, comunity-based democratic economics -- a hopeful step towards a better world

By "common good", we mean peace and justice, a healthy planet and the well-being of each and every individual person, empowering those most in need. Unlike other banks, a Common Good Bank community will give all of its profits to the community (near and far). Member depositors will use an innovative democratic system to guide the bank's socially responsible investment priorities and contributions to the community.

The Common Good Bank business plan, an elegant integration of ideas from over a hundred contributors, is online for all to see.

Mohandas Gandhi said "build a new society in the shell of the old". Common Good Bank communities will be a new financial system generating funds to benefit the community, while providing exceptional banking services. Their spending and lending priorities will be decided by direct democracy to serve the common good of all. Common Good Bank communities will be, in effect, seedlings for a sensible and compassionate decentralized democratic economy.

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Everyone Wins