The primary customers of the Los Angeles Public Bank will be municipal service providers such as school districts, public utility commissions, and city departments. The bank will operate as a “banker’s bank,” providing financial services and liquidity support to local community banks, credit unions, and CDFIs. It will partner with these institutions to increase their lending capacity and strengthen their ability to serve local businesses and residents.

The public bank will also act as a kind of “mini-Fed” for the region, backing up community lenders, helping guarantee loans, and supporting projects that align with the City’s economic priorities. This includes affordable housing, infrastructure upgrades, and support for small and mid-sized businesses. All lending will be done in a way that is financially sound and environmentally responsible. By recycling public dollars locally instead of sending them to Wall Street, the bank will help keep capital recirculating in Los Angeles and build long-term economic stability rather than sending it out-of-state or to distant shores.