Credit Union Association of New Mexico Endorses a Public Bank for New Mexico
Ballooning New Mexico|@Yancy|Flickr
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
Hannah-Leigh Bull
Jesse Guillen
Paul Gibson
Glenn Schiffbauer
Ellen Brown
Allied Organizations that support what a State Public Bank can do for our economy
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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
- 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