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Forum Post: Owning your own Bank - step-by-step

Posted 12 years ago on Nov. 20, 2011, 6:03 p.m. EST by Ownyourownbank (0) from Brooklyn, NY
This content is user submitted and not an official statement

A group of banking professionals (don't spam us please) asked ourselves if the results of the OWS would be lasting and make a real difference to the daily lives of real people. It was in that spirit we decided to form a company that helped people OWN THEIR OWN BANK and provide the services to help them FREE.

This means as a Board Member or Stock Holder in your own locally owned community bank, you could lend to projects and enterprise that produced jobs where you lived, that kept mortgages to your land and homes locally, that kept interest rates low, offering low and zero interest loans and where profits from your bank would go to the depositors – similar to the “credit union model”. You can charter any style of financial institution you wish – retail, private, credit union, domestic, offshore trust – and chances are we can walk you through the steps, even help you raise the capital required for your new venture.

We have a few guidelines – part of which involves incorporating mandates in your articles of incorporation for funding youth centers, latchkey kid programs, and shelters for battered women, families living on the streets, senior centers, renewable energy projects – things that can make a positive impact to your local community and the world we all share.

If this sounds like a bank you want to be part of, then join as a depositor. You’ll also be a stock holder and will earn dividends from your bank, along with interest bearing checking, a high CD rate, zero ATM fees and other perks community banks can offer that the big boys won’t.

At the end of the day, after you’ve been maced (don’t forget police are people too) and after the Mayors and Governors and Presidents and Bankers have trampled all of your rights, your future, your ability to feed your families and help your neighbors, ask yourself if you did everything possible to avoid the disaster you and everyone else faces today.

And if you ran your own bank and failed, then I would at least say you tried darn near everything.

And if you haven’t tried running your own bank and creating a lasting prosperity for you and your community, then I might suggest you give it a try. It might work and if so, you won’t have to be sleeping in a tent in a snowy park or under a freeway overpass in winter…a cruel prospect indeed.

Think smart. Act smart. Be smart. Be rich. They do it and so can you. The biggest reason the 1% are so rich is that even if they hate each other with a passion (plenty of that in their group), they can smile, sit and dine with each other, plot together and create lasting relationships that accept their differences with dignity and respect, and working together like a well oiled machine, mop up the floor with people who cannot accept EVERYONE on earth as their brothers and sisters with something valuable to add to the plan.

Give us a shout and lets get the ball rolling in your neck of the woods. You can do it all without attending any meetings in NY, LA or Oakland – you can do a lot of it from home with a simple PC and internet connection and organize your group and bank in less than the time it takes to attend a daily protest. And if prosperity is what you really want out of life, for you, your family and community, then here you go.

Seize the day and do something positive for everyone around you.

Happy holidays and best wishes to all of you on the front line.



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[-] 2 points by qazxsw123 (238) 12 years ago

You mean like in North Dakota?

[-] 1 points by whisper (212) 12 years ago

My question is this. What assets would such a bank own to back the currency? And would the currency be exchangeable for the assets it represents?

[-] 1 points by fuzzyp (302) 12 years ago

Already exists. It's called a credit union.

[-] 1 points by nucleus (3291) 12 years ago

It is well worth looking at Islamic Banking consistent with Sharia law.

Sharia prohibits the fixed or floating payment or acceptance of specific interest or fees (known as Riba or usury) for loans of money. Investing in businesses that provide goods or services considered contrary to Islamic principles is also Haraam (forbidden). wiki

Similar principles could be applied to the national/global banking system to eliminate abuse and limit accumulation of wealth and power while providing a system of funding for products / services that benefit humanity.

[-] 1 points by tomcat68 (298) 12 years ago

This sounds good, however I'd have to protest myself and while I can Look at the can of pepper spray, I'm not sure I could press the button.

[-] 1 points by cmt (1195) from Tolland, CT 12 years ago

While I'm not in a position to participate in this right now, I do kiva loan. It's finance on a human level.

[-] 1 points by saged (33) 12 years ago

can u send me some cash to start a bank ?

[-] 1 points by 1776alloveragain (67) 12 years ago

This is a great post. I'm interested. Send me a private message with any info links or if you want to discuss this further/exchange email addresses. I'm all about innovating new ideas to create the changes we need to see. Awesome job.