STOP BANKING ON APARTHEID PROTESTS AT OVER 400 BANK OF AMERICA BRANCHES
PROTESTS WILL TAKE PLACE IN OVER 90 CALIFORNIA COMMUNITIES, BERKELEY STUDENT CO-OPS ANNOUNCE WITHDRAWAL OF FOUR MILLION FROM B OF A
by Stop Banking on Apartheid
San Francisco, California, United States
November 17, 1978
The press release announces that 200,000 leaflets will be given to Bank of America patrons at over 400 banks in over 90 California cities, towns, and suburbs, from Arcata to Imperial Beach, to protest its loans to South Africa. The Bank of America had admitted to having at least a $200 million "exposure" in South Africa; it also manages a $110 million loan direct to the South African government. The press release says Stop Banking on Apartheid is a coalition of student, community, church, and labor groups. Key members of this coalition are CUAA (Campuses United Against Apartheid), BAYSAC (Bay Area Southern Africa Coalition), SCSAC (Southern California Southern Africa Coalition), and the California Campaign for Economic Democracy. Community groups such as the Coalition for Economic Survival and the Echo Park Food Conspiracy are supporting the campaign in Los Angeles, as well. U.S. banks have lent South Africa over $3 billion, most to the government and its state-owned industries. In 1977 (when loans were less), the U.S. Senate Committee on Foreign Relations found that this investment "[strengthened] the economic and military self-sufficiency of South Africa's apartheid regime." Berkeley student Co-ops will withdraw their $4 million plus account from the Bank of America. A number of student governments have recently taken the same step (Sacramento State, Stanislaus State, San Diego State), and many more withdrawals are expected. The press release includes A PARTIAL LIST OF CALIFORNIA CITIES, TOWNS AND SUBURBS WITH PROTESTS AGAINST THE BANK OF AMERICA SCHEDULED FOR NOVEMBER 17.
Used by permission of former members of Stop Banking on Apartheid.
Collection: Miloanne Hecathorn papers