Mission of Friends of the Public Bank of Oakland
adopted May 22, 2017 by the general meeting
It is the mission of FOB to provide community oversight and stewardship in the formation and functioning of the Public Bank of Oakland to base its decisions on the values of: Equity, Accountability, Social Responsibility and Democracy.
1) Equity – The FOB is committed to a public bank which acknowledges and attempts restitution of the historical burdens carried by disenfranchised communities, including communities of color and many other marginalized groups.
2) Accountability – The bank is accountable to the residents of Oakland and the greater Bay Area, (e.g., Berkeley, Richmond, etc.), who have a right to fully transparent explanations of the Bank’s actions and choices.
3) Social Responsibility – Decisions regarding who gets loans, what projects get invested in, and who benefits should take into account investing our money into the wealth and health of local communities and the environment.
4) Democracy: The bank will be governed using democratic processes which consciously and intentionally adhere to the values/principles listed above.