Podcast: History of The Bank of North Dakota

2019 is the centenary of the only public state bank in the United States, the Bank of North Dakota. It’s a big deal. From the struggling prairie farmers who started the bank after they took control of their state government to its unmatched success as a financial institution, the BND has inspired the launch of a hopeful national movement to bring about key systemic changes to the public’s access to its common wealth. Dr. Rozanne Enerson Junker is our guest, an expert on the history of the Bank. Rozanne talks about the way things were in North Dakota that precipitated the bank’s creation, how it got started and how many of the same aspects of monopoly-controlled finance still impact communities today. It is the first in our series of broadcast discussions on the Bank of North Dakota for 2019.

What does this have to do with Ohio? As many of our cities and towns struggle to find funding to pay for infrastructure and basic services, we find that solutions do exist, if we are willing to think outside the box. The establishment of a public bank to fund underserved areas has been a success in North Dakota. The bank has led to stronger local banks and a more vibrant economy. The banks track record of success for the last hundred years has led to a movement across the nation to explore the potential of public banks.

Listen to the podcast episode to learn the history of The Bank of North Dakota 

To learn more about public banking visit the Public Banking Institute website.