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.

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.

The Alliance for Local Economic Prosperity (AFLEP) is a state-wide nonprofit advocating for increased investment in local economic prosperity for New Mexicans. Equitable access to capital is a priority, especially for rural community development, small business entrepreneurs and adaptive regenerative agriculture practices. A Public Bank of NM holding deposits of the state’s revenue (taxes and fees) would be a tool to increase investments in New Mexican communities rather than those funds being held by global banks making investments outside the state. Learn more:

Watch our 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.

Jesse Guillen

Senator Peter Wirth

Sawtell, Wirth & Biedscheid, P.C.

Paul Gibson

Gibson & Associates

Carmen Lopez

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

Read Statement
Read Statement
Read Statement
Read Statement
Read Statement
Read Statement
Read Statement
Read Statement
Read Statement

National News

San Francisco Green-Lights Nation’s First City-Run Public Bank

San Francisco Green-Lights Nation’s First City-Run Public Bank

By Sydney Johnson for KQED | SEPTEMBER 8, 2023 Photo: A Muni bus passes by City Hall in San Francisco on Aug. 8, 2023. (Beth LaBerge/KQED) After years of pressure from financial equity advocates, San Francisco supervisors this week unanimously approved a plan for the...

Public Banking Efforts Are Gaining Momentum And Clarity In California

Public Banking Efforts Are Gaining Momentum And Clarity In California

By Oscar Perry Abello for NextCity | JUNE 27, 2023 — From Los Angeles to the East Bay, major public banking plans are emerging from California cities.   Prince Osemwengie has been looking into every tool in the toolbox to help stem the tide of local businesses...

New Mexico News

AFLEP stands up to the Banking Bull at Legislative Panel

AFLEP stands up to the Banking Bull at Legislative Panel

Photo of 'Charging Bull' & 'Fearless Girl' sculptures by Anthony Quintano On October 13, 2023, AFLEP again went before the Interim Economic & Rural Development & Policy Committee. Watch the full video here. AFLEP Executive Director Angela Merkert faced 4...

New Proposal for a NM State Public Bank

New Proposal for a NM State Public Bank

    by Angela Merkert, Executive Director, AFLEP — Alliance for Local Economic Prosperity met recently with the Economic & Rural Development & Policy Committee, an interim committee of the state legislature. You can watch the video of the full...

Upcoming Events

No Events on The List at This Time

See All Events

AFLEP Videos

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 May 2023 rates: North Dakota, 2.1%; U.S., 3.7%; New Mexico, 3.5%.
  • 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.
  • Founded in 1919 with $2 million in capital, BND reported assets of $7.0 billion at the end of 2019, their 100th anniversary. In 2022, their assets were $10.2 billion.
  • BND originated or renewed 15,696 loans to state businesses, projects and students, totaling $1.33 billion in their 100th year of 2019. Their total loan portfolio in 2022 was $5.4 billion.
  • BND works actively to create successful new businesses to reduce the state’s dependence on oil and gas.
  • 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). Their ROI in 2022 was 19%.

Detailed Comparison of New Mexico and North Dakota
BND’s 2020 Economic Development Report: Creating Financial Solutions for Current and Emerging Economic Needs
BND 2022 Annual Report: Game Changer