Councilor Renee Villarreal, supported by Councilors Carmichael Dominguez and Joseph Maestas, has introduced a resolution to take the next steps toward establishing a public bank for Santa Fe. The process began in October 2014 and has now culminated in a feasibility study that found in favor of implementing a public bank that would hold the city’s deposits. Instead of paying huge fees to private banks like Wells Fargo, our public bank will have the benefit of keeping city deposits safely local and earning interest that will augment the city’s coffers rather than depleting them. There is still a long way to go, but once the task force has been approved and selected, the future of a public bank for Santa Fe will be much brighter. I urge everyone to support this important step toward banking independence for the city of Santa Fe.
Patricia Victour – Santa Fe
