Palmetto Public Deposits Coalition

🚨Palmetto Public Deposits Coalition Launches to Strengthen South Carolina's Financial Ecosystem🚨 Read the full announcement ⬇️ via The Post and Courier https://lnkd.in/d8qSTHBe

Thank you FITSNews for sharing coverage from our press conference last week! This bill is a big first step, and we're so grateful to Rep. Ballantine and Sen. Bennett for leading the way. 🙌 FULL VIDEO HERE ➡️ https://lnkd.in/dCfRkJiY

Sen. Sean Bennett has officially introduced the South Carolina Community Financial Empowerment Act in the S.C. Senate! This bill aims to establish a fair and competitive market for #publicdeposits, giving local communities greater control over their financial futures. 👏 Thank you, Sen. Bennett!

Today, the South Carolina Community Financial Empowerment Act was filed in the S.C. House of Representatives by Rep. Nathan Ballentine. This bill is about creating a true free market for public deposits and giving our local communities the financial freedom they deserve. Thank you for your support, Rep. Ballentine! #PalmettoPublicDepositsCoalition

📰Great read in The Aiken Standard by PPDC Chairman Rick Osbon! Be sure to check out the full article at the link below ⬇️ https://lnkd.in/dfEfVbcr

Why are public deposits in South Carolina limited to traditional banks? 🤔 Credit unions are federally insured, too—plus they bring big benefits to our communities by keeping our money local. Our tax dollars should be fueling local growth, not big banks.

🚩 77.8% of South Carolina’s bank deposits are in the hands of out-of-state banks—including our public deposits. It’s time to stand behind policies that empower local financial institutions and keep our tax dollars invested in South Carolina. Support #PPDC TODAY ➡️ visit https://lnkd.in/dPdK3yjb

"...As much as 78% of all deposits in South Carolina were held in out-of-state banks in 2023. This is taxpayer money leaving our state and towns. We need it here to invest in our future." - Rick Osbon, PPDC Chairman Read Rick's full column in the Aiken Standard & AikenStandard.com ⬇️

#FactCheck: As traditional banking options continue to shrink in South Carolina, finding reliable alternatives for our #publicdeposits is more critical than ever. Thankfully, institutions like credit unions are available to fill this need - but only if we remove existing regulation that prevents them from doing so. Every community deserves the freedom to choose how to protect its funds, which is why we're fighting the unnecessary barriers that limit access to safe and effective financial solutions. Urge your legislator to support #PalmettoPublicDeposits and help us achieve #FinancialFreedom for ALL of South Carolina's communities.

Today, we pause to honor the brave men and women who have served our country with courage and dedication. 🇺🇸 Let’s continue to build a future worthy of their service by protecting our #financialfreedom and fostering accountability in our communities. #ThankYouVeterans