Yunior Rivas Garcia, American Prospect
This article from The American Prospect quotes Genesee Co-op CEO Melissa Marquez. Genesee Co-op has been supporting public banking to support the local banking infrastructure in Rochester and as a long-term way to help community financial institutions work with the City to address local economic issues.
“[The Bank of North Dakota] has been around for a long time … and they perform well. Profitability goes back to the state. So why wouldn’t we do this? Why should the profits go into private hands when it could be returned to the public?” Melissa Marquez, CEO of the Genesee Co-op Federal Credit Union in Rochester and one of the most prominent supporters of the proposed public bank, told NPR in 2023. “Let’s make sure enough money is circulating in Rochester to benefit Rochester residents.”
