Community Bank of the Bay
Community Bank of Bay was founded in 1997 to serve the credit needs of historically underserved businesses in the San Francisco Bay Area. Locally owned and operated, the bank invests in the economic vitality, community spirit, and future of Oakland. With exceptional local market expertise and broad industry knowledge, the bank brings value to customers and their community.
Earlier this month, Next City and CDBA member Community Bank of the Bay joined forces to host the annual Spaces and Places conference. This event, designed as an "unconference," intends to shine a light on community development issues affecting communities of color. These are issues often ignored by urban planners and design communities, but are nonetheless in dire need of attention. This year's workshop explored collective and cooperative power, affordability in housing, homelessness, climate change displacement and environmental justice, and the needs of black cultural districts. The recorded stream of the event is available here.
As a senior vice president at Silicon Valley Community Foundation (SVCF), one of Bert Feuss' primary jobs is to decide where to invest the money that comes from donors. But when he went looking for a bank to deposit with, he specifically wanted one that would sign on to the Anti-Displacement Code of Conduct. This pledge would ensure that the financial institution would avoid making loans to developers who rely on the eviction of existing residents. While other banks hesitated, The Community Bank of the Bay was more than happy to agree. CDBA members Amalgamated Bank and Beneficial State Bank are also mentioned in this article.
A new movement in Oakland has locals calling for the establishment of a new institution, the Oakland Public Bank. This bank is meant to be a more mission driven and impact focused alternative to big banks in the area. However, Oakland's own Community Bank of the Bay, started in 1996, largely does much of this already. So is the proposal for this new bank just treading old ground?