Keeping New Mexico's Revenue
Safe, Local, and Working

How a Public Bank Will Strengthen NM Finance

Nob Hill, Albuquerque. Photo by Adolphe Pierre-Louis, Albuquerque Journal

The Public Bank of North Dakota has kept their public funds safe, local and working for more than 100 years.

Credit Union Association of New Mexico Endorses a Public Bank for New Mexico

Credit Union Association of New Mexico
Endorses a Public Bank for New Mexico

Read CUANM’s full endorsement here

Ballooning New Mexico|@Yancy|Flickr

How Can a State Public Bank
Support Our Communities?

Infrastructure, Renewable Energy, Agriculture, Economic Development & Recovery

Researcher and interns of Sandia Labs at Pueblo of Acoma discuss photovoltaic solar panel. Photo courtesy Sandia Labs via Wikimedia Commons.

AFLEP in New Mexico

The Importance of Place


By KUNM | January 18, 2021

Listen to Arturo Sandoval, founder of the Center of Southwest Culture, on KUNM’s “Espejos de Aztlán” discuss the importance of Place in New Mexico within the context of a rapidly changing world. A New Mexico public bank could help to support our communities and facilitate their growth with respect, within tradition.

 

Las Cruces City Council Discusses Formation Of A Public Bank In New Mexico

By KRWG | December 14, 2020

Alliance for Local Prosperity presented to the Las Cruces City Council on December 14, 2020 on the merits of a public bank for New Mexico. Supporters for a NM Public Bank include State Senator-Elect Carrie Hamblen, Councilor Gabe Vasquez and Councilor Kasandra Gandara.

READ MORE

A Public Bank for New Mexico

Richard Eeds - aflep.org

Richard Eeds courtesy SantaFe.com

By Richard Eeds, KTRC | Dec 2, 2020

Why does New Mexico need a Public Bank? Listen as Richard Eeds interviews Elaine Sullivan and Melissa Pickett of Alliance for Local Economic Prosperity about the ways a Public Bank could benefit all New Mexicans in the midst of the challenging times we are facing.

LISTEN NOW

Working together let’s establish a Public Bank for New Mexico, to finance the bold changes it will take for our communities to overcome today’s obstacles and seize tomorrow’s opportunities.

The Alliance for Local Economic Prosperity (AFLEP) is a nonprofit, grassroots think tank advocating for a state public bank. New Mexico’s revenue (taxes and fees) is now largely invested in global banks outside the state, missing opportunities to invest in the economic needs of New Mexico communities. Learn more:

Endorse a Public Bank for New Mexico

Endorse a public bank so public officials and friends know you support public banking and why.

Robert Chavez

President/CEO
Sandia Laboratory Federal Credit Union

Reilly White

Associate Professor of Finance
University of New Mexico

Dr. William Bowen

Family Medicine Practitioner

Lindsey Hope Pearlman

Director, Writer, Performer, Puppeteer
Up & Down Theatre

Glenn Schiffbauer

Executive Director
Santa Fe Green Chamber of Commerce

Ellen Brown

Author & Founder
Public Banking Institute
Endorsements from community members and leaders across New Mexico are extremely helpful to us, as we speak with Legislators – to show the growing support for public banking.   View Full Endorsers Gallery >>>

Allied Organizations that support what a State Public Bank can do for our economy

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In the News

New push for state public bank in 2021 legislative session

New push for state public bank in 2021 legislative session

By Brady Wakayama & Stephanie Chavez, KRQE – There is a new push – backed by several state lawmakers, and now some Albuquerque city councilors – for New Mexico to establish a state public bank. “It’s a great low cost, very easy way to make sure small businesses and economic development projects, municipal projects of all kinds, can get capitol pretty quickly,” said Dan Mayfield, VP of the Credit Union Association.

Building a green economy

Building a green economy

By Kevin Robinson-Avila, Albuquerque Journal – The U.S. has emerged from previous economic downturns like today’s pandemic-induced slump by building new infrastructure. And given the immense construction needed to add transmission capacity, modernize grid technology, and build renewable generation facilities, transitioning to a green economy could provide a robust path to recovery while also laying the foundations for new, sustainable industries.

Albuquerque’s Quest to Buy Local Everything

Albuquerque’s Quest to Buy Local Everything

By Oscar Perry Abello, Next City – The City of Albuquerque spends around $400 million a year on purchasing goods and services — excluding any CARES Act spending. About 65 percent of that already goes to local businesses in Albuquerque. “I would say I don’t see us surviving COVID without the City of Albuquerque business,” says Diverse Office Supply CEO Kerry Brennan Bertram. “I’m not exaggerating, I really don’t see how we could have managed.”

Upcoming Events

march

02marAll DayVirtual RoundhouseFor easy, safe, and free access to the state’s governmental leaders during the COVID-19 pandemic

09marAll DayVirtual RoundhouseFor easy, safe, and free access to the state’s governmental leaders during the COVID-19 pandemic

12mar10:00 am11:00 amPublic Banking Coalition Monthly Conference CallLearn more about Public Banking, discuss current issues and get updates on the movement.

16marAll DayVirtual RoundhouseFor easy, safe, and free access to the state’s governmental leaders during the COVID-19 pandemic

See All Events

Public Banking Institute

Accross the nation, more than 25 initiatives and 50 grassroots organizations are advocating for the chartering of public banks. Learn more about the National Movement and the work of our national affiliate, the Public Banking Institute.

New Mexicans deserve the prosperity a public bank has provided North Dakotans

Public Bank of North Dakota 100 years slides
  • North Dakota had the lowest unemployment rate in the nation during the 2007-08 recession. Current Sept 2020 rates: North Dakota, 3.8%; U.S., 7.9%; New Mexico, 9.4%.
  • Bank of North Dakota (BND) has added to the state’s annual operating budget $300+ million over the past 10 years.
  • North Dakota community banks are thriving because of their partnerships with BND: 10 community banks per 100,000 population, the highest in the U.S.
  • BND originated or renewed 15,696 loans to state businesses, projects and students, totaling $1.33 billion in 2019. The total loan portfolio is $4.5 billion.
  • BND works actively to create successful new businesses to reduce the state’s dependence on oil and gas.
  • Founded in 1919 with $2 million in capital, BND reported assets of $7.0 billion at the end of 2019.
  • BND posted its 16th year of record profits at $169 million in net earnings in 2019 and is highly profitable, with a Return on Investment (ROI) of 18.6% for 2019.

Detailed Comparison of New Mexico and North Dakota
BND’s Financing Economic Development 2019 Report
BND 2019 Annual Report: From Surviving to Thriving

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