The Public Bank of North Dakota has kept their public funds safe, local and working for more than 100 years.
Photos courtesy BND.com
How Can a State Public Bank
Support Our Communities?
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 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.
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
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...
By CHARLOTTE KRAMON for Los Angeles Times | JULY 6, 2023 Photo: Assemblyman Miguel Santiago, left, presents Assemblyman David Chi a sign after Chiu’s measure to let California cities create their own public banks was approved by the Assembly in 2019. (Rich Pedroncelli...
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
By Ryan Boetel for Albuquerque Journal | June 25, 2023 Rural NM has some of the worst access to high-speed internet. Here's what the federal government is doing to address the disconnect. Photo above: Horacio Lizama, left, from Medanales, and Juan Andres...
by Angela Merkert, Executive Director, AFLEP — With the challenges in the financial system—banks closing, fintech gaining market space, interest rates rising—lending for small businesses is decreasing. One recent business article reported that the U.S. loan approval...
by Angela Merkert, Executive Director, AFLEP — Whew! That 60 day session went by fast. Over 240 bills were passed of the more than 1000 filed. A number of those bills will support increased local economic prosperity. We are grateful for legislative support for...
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We had a great discussion panel with Retake our Democracy ahead of the 2023 Legislative session. October 26, 2022
AFLEP Leadership Team Member and Albuquerque”buy local” business advocate, Clifton Chadwick shares key economic reasons why he supports the creation of a State-Owned Public Bank. March 10, 2022
Bob Mang, Re-Genesis Inc, Co-Founder (Retired) and AFLEP Board member, talks about rural economic development and how business guilds can regenerate communities.Jan 14, 2022
- 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%.