A Community-Public Banking System can save us tens of thousands of euros in interest payments on every mortgage and would serve the productive economy, and not speculation and boom-bust creation.

(Feb 2020 figures: If we had a Community-Public Banking System similar to Germany you would save over €117k in interest on a 315k mortgage over 30 years)


Preliminary Proposal by the PBFI.

Creating Ireland’s Alternative Banking Force –

Incorporating the Credit Unions & the Post Office Network:

Published March 2017

Link to full screen version of ‘Creating Ireland’s Alternative Banking Force’ Here


The Proposed Comprehensive Public Banking System for Ireland was Presented to Finance Committee 12th Oct 2017:

Presentations on Public Banking begin at 2hrs 27 minutes.

The Tracker Mortgage Scandal is covered before Public Banking.


Pillar Banks or Peoples Banks – Credit Unions & Post Offices hold the key!

PBFI Interview on Limerick Today with Joe Nash –

Peoples Banking Vs Commercial Pillar Banking
PBFI believe our 3 million member owned Credit Unions and the network of over 1,000 Post Offices hold the key to creating the badly needed alternative to the Commercial Pillar Bank monopoly in Ireland.

The above map shows the possible locations of the proposed 10 SME focused, Irish Regional Public/Community Banks and their Central Service Provider (CSP) in the 26 Counties. The map also shows the possible location of 2 Regional Public/Community Banks in Northern Ireland. The exact location will be determined by an in-depth study of the regions by the ‘Workgroup’.

                      Germany has almost 70% Public & Community Banks;

It has 42% Sparkassen Public Savings Banks (Est. 1778) comprising ~400 Independent Public Banks with 15,000 branches and 26% Cooperative Banks, comprised of 1,050 Banks.

  • They are the backbone of the successful German economy; the fourth biggest in the world.
  • They serve the community and prioritise lending to small and medium size local businesses.
  • They are regionally bound and regionally focused and prioritise the prosperity of their region.

The Private Commercial Banks in Germany have only 12.5% of the market.

In Ireland 3 banks have over 90% of the market. (AIB is majority State owned, operates as a Commercial Bank and owes the State over €10bn.)

Why we need to create an alternative..

Prof. Richard Werner Conference – Banking Industry Exposed & Solutions Presented –  Dublin April 2016


The Questions asked & answered by Prof. Richard Werner.

  1. Why is banking so important for the economy, society and the sustainable development of regions and communities?
  2. What causes the recurring boom-bust cycles and crises?
  3. What policies or banking systems have historically been most successful in avoiding these cycles and crises?
  4. What kind of banking system and banking policy do we need?
  5. While we are at it, can we solve the major problems of our time with this
  6. What are the policies which are being pushed that we need to oppose?

A detailed index is included with the video.


Community/Public Banking for Ireland – Seamus Maye PBFI on Tommy Marren Show

‘Creating Ireland’s Alternative Banking Force’

Incorporating the Credit Unions & Post Office Network.
Tommy Marren Interviews Seamus Maye, Joint Chairman & Spokesman for the Public Banking Forum of Ireland (PBFI) on the PBFIs Preliminary Proposal ‘Creating Ireland’s Alternative Banking Force’


Financial Institutions that Serve the Real Economy.

Dr Thomas Keidel & Christopher Simpson (CIVITAS)

German Savings Banks Association


The German Model







The German Public Banking Model – Two centuries of dependable dedicated service.

The German Savings Banks, the Sparkassen (Meaning Treasure Chest) Founded 1778, has 42% of the total German market and provide 42.7 per cent of all finance to German businesses.

The Sparkassen dependable support of German Mittelstand (primarily small and medium firms SMEs) is the backbone of the German economy. Some 86% of German businesses have an annual turnover of less than €1m.

These banks increased lending to SME’s by 17% between 2008 and 2011.

The German Public Savings Banks have

  • 42% of the overall market in Germany with 50 million customers;
  • 75% of the SME Start-up market.
  • 30% of the Farm lending market.

The German financial system is comprised of

c. 70% Public Banks – 42% Sparkassen Public Savings Banks & 26% Co-op Banks.

The Private Commercial Banks have only 12.5% of the Market.

small bank Eurozone

German Public Savings Banks:

  1. Operate on commercial principles with the aim of maximising sustainable lending as
    opposed to maximising profits, bonuses and shareholder returns.
  2. Operate on the Principle of “Local deposits into local loans” keeping capital in their own
  3. Their Public Mandate guides them to maximise the competitiveness of their
  4. Their dependability and financial performance is well proven over many
  5. Surpluses remain with the bank & within the region. Profits are used to increase equity
    and for non-profit social purposes (the public benefit principle).
  6. Prudent self-regulation and their public mandate prohibits engaging financial
    speculation & securitisation.
  7. They are permitted to lend only to local people and businesses in its designated area.
  8. Controlled by community stakeholders and a professional bank management team.

Germany also has over 26% Cooperative Banks:

Financial Crisis of 2008 a Boost for Sparkassen German Public Savings Banks – Funds came rushing in to safety.

Read UK Telegraph Article

In 2008 when the European private bank failure was unleashed on the public,

  • €1bn in deposits came rushing in to the safety of the German Sparkassen Public Savings Banks in just a two week period.
  • No Public Savings Bank required a bail-out in the crisis.
  • The Public Savings Banks actually increased lending to SMEs/businesses by 17% between 2009 and 2011; much of the new funding went into R&D as product demand dropped because of the crisis.

Germany Vs Ireland in Banking

  • Germany has only 12.5% Private Banks;
  • Ireland has close to 95%
  • Irish Credit Union funds are by law held in the Private Commercial Banks. (Estimated at €7bn; are they safe – are they still there?)

No safe place for deposits in Ireland 

  • Deposits up to €100k Guaranteed by a broke indebted Government. (Any issues; we the taxpayer will pay)
  • The private banks have the guarantee of a bail-in when they need rescuing next time. (EU law since 2012)

Shouldn’t we have a safe haven for our deposits for when the Bail-in’s that have started in Europe come to Ireland?

Credit Unions and Community Public Banks