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.

We’ve Got a Date!

The bill for Public Banking HB 130 is scheduled for the House Commerce and Economic Development Committee at 1:30 p.m. on Wed., Feb. 5, 2025 in Room 317.

We request that everyone to contact committee members to seek their support of a Do Pass for HB 130–Public Banking Bill.

For more information, see our post which will give you all of the details on how to contact the Committee to express your support of a Public Bank in New Mexico.

Double the Impact of Your Donation

With our current Gift Matching Appeal, we move one step closer to making a Public Bank of New Mexico (PBNM) a reality. Now it is more important than ever to obtain the financial support.

Thanks to the generosity of two incredible donors, every contribution made to this fundraising campaign will be matched dollar-for-dollar which means that your gift will have TWICE the impact.

In addition to the state public bank initiative, AFLEP’s North Central Regional outreach project is in full swing since July 2024 so let’s keep the flow going and support thriving New Mexico communities.

 Here is our video about an farm cooperative in Central New Mexico which provides food, trains new farmers, and incubates businesses. The participants discuss the financing challenges faced by farmers and small businesses today. A Public Bank in New Mexico could be a vital resource to invest in local food production, job creation which in turn would create a stronger local economy and community well-being.

Endorsements a Public Bank for New Mexico

You can also 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

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New Mexico News

National News

A Bank of One’s Own

A Bank of One’s Own

In a recent article published by Non Profit Quarterly regarding Economic Democratic Weekly, it is clear that there is more legislative activity and public bank formation is underway in California, New York and other areas in the States. The focus is clearly on keeping...

Banking For The People: New E-book by Next City & CommonFuture

Banking For The People: New E-book by Next City & CommonFuture

by Next City & CommonFuture — Our mainstream banking system is failing most of us. This ebook includes stories about the people and organizations working to make the system work better for everyone — no matter their race, zip code or socioeconomic status. It’s not...

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

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