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

How a Public Bank Will Strengthen NM Finance

Farm in the Agri-Cultura Network in South Valley, NM. From our video “Growing a Prosperous Future” by LittleGlobe

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.

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:

The Challenge Grant

Two donors are offering you an opportunity to invest that doubles your impact and truly helps a socially responsible initiative. Between now and December 31st, 2022, every dollar donated will be matched up to $25,000. This means every dollar donated is doubled in value. We invite you to be part of the change!

Donations Doubled up to $25,000!

Your donations will be invested in where we’re going in 2023. With your investment, AFLEP can start 2023 with the financial resources to initiate and implement the final phase of this much-needed endeavor. Please take advantage of this opportunity to double your investment in New Mexico’s future!

Watch our new video about one incredible farm cooperative in Central New Mexico, which provides food, trains farmers, and incubates businesses, talk to us about the financing challenges faced by farmers and small businesses. A Public Bank in New Mexico could be a vital resource to invest in local food production, job creation, and a stronger local economy.

Endorse a Public Bank for New Mexico

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

Reilly White

Associate Professor of Finance
University of New Mexico

Hannah-Leigh Bull

Llama Deara Ranch

Jesse Guillen

Paul Gibson

Gibson & Associates

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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National News

Big City Mayoral Races Shine A New Light On Public Banking

Big City Mayoral Races Shine A New Light On Public Banking

NEXT CITY, by Oscar Perry Abello September 27, 2022 Public banking is already making headlines in one big city mayoral race slated for next year, and it’s bound to come up in at least one more. (photo: Philadelphia City Hall, by Jose Fontano / Unsplash) New Mexico...

Hear Us: Public Banking for Racial Justice

Hear Us: Public Banking for Racial Justice

June 8, 2022 | Next City Op-Ed, by Lebaron Sims – More than a decade after the Great Recession, America is again experiencing a supply-side recovery. Whether via the $700 billion bailout of 2008 or the unchecked exponential growth of 2022, commercial banks and financial corporations eat first – while most Americans, especially the working-class Black and Brown communities most affected by crisis, struggle without support. Then and now, that contrast is particularly sharp in New York City, a global center of finance, the home of countless banks, and an early epicenter of the pandemic. Members of Public Bank NYC (PBNYC), a coalition of organizations and other stakeholders committed to financial justice in New York City, had another vision, rooted in racial equity and environmental justice.

New Mexico News

Rep. Chandler: NM’s big budget surplus offers big opportunities

Rep. Chandler: NM’s big budget surplus offers big opportunities

Representative Christine Chandler from Los Alamos shared some big ideas for the budget surplus the state legislature will get to work with in the 60-day session this winter. It was published in three papers over the weekend. Here is an excerpt: Diversifying and...

Base public bank discussion on facts

Base public bank discussion on facts

MY VIEW – Peter Smith  Santa Fe New Mexican | August 13, 2022 Let’s have a fact-based discussion about a public bank for New Mexico. What do we call it when a person who knows the facts of a specific situation fails to state them fairly and accurately, and tries...

AFLEP Videos

Upcoming Events

november

octAll DayAFLEP is hiring!

30nov12:00 pmWebinar: Benefits of Public Bank - Gallup / Four Corners area

december

octAll DayAFLEP is hiring!

07dec6:00 pmWebinar: Benefits of Public Bank - Las Cruces / Deming / Silver City area

14dec12:00 pmWebinar: Benefits of Public Bank - Raton / Las Vegas / Taos Area

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 2022 rates: North Dakota, 2.3%; U.S., 3.7%; New Mexico, 4.5%.
  • 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 responded to the COVID-19 crisis with confidence in 2020, filling the gaps that federal programs didn’t support and seeing a 15% Return on Investment (ROI).

Detailed Comparison of New Mexico and North Dakota
BND’s 2020 Economic Development Report: Creating Financial Solutions for Current and Emerging Economic Needs
BND 2020 Annual Report: Responding with Confidence

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