Current Municipal Depositories
The following banks are depositories selected by the City of Chicago to hold the City’s $600 million to $1 billion at any given time. These depositories compete in terms of rates offered to the City. Now, we’re asking them to compete by demonstrating their commitment to invest in all of Chicago.
Where does your Alderman stand?
Ultimately, the passage of the MDO will be determined by Chicago’s Aldermen. Find your leader below. Email to let her/him know you support the ordinance. Or call.
The MDO is common-sense legislation that enjoys a broad coalition of partners, including:
What Chicago is Saying
Chicagoans also believe the MDO makes a lot of sense.
Executive Director, InCrease the Harvest
The Municipal Depository Ordinance creates opportunities for underserved communities to flourish, through small business growth, economic development, and home ownership. Depository banks community growth values should align with tax payers community growth values, and the MDO creates this code of ethics.
Organizer, A Just Harvest
Banks holding our tax dollars need to be good civic actors. The Treasurer needs clarity on depository practices to represent our interests. The MDO provides this clarity, keeping banks accountable to City Council and the City Council accountable to the people.
Young Leaders Alliance
The MDO is a critical legislative step in empowering the City Treasurer in the vital ability to hold financial institutions that receive our tax dollars accountable. This ordinance gives insight on how our tax dollars are invested back into this global city. A vote in support of this ordinance is proactively telling Chicago residents that our elected officials have our economic future in mind.