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...
Addressing Inequalities
Many thanks to Councilor Renee Villarreal for her vision and persistence in pursuing the investigation of a public bank for Santa Fe. Thanks also to Councilors Joseph Maestas, Carmichael Dominguez, Signe Lindell and Peter Ives for co-sponsoring the resolution to...Leaning In
Banking on New Mexico has worked long and hard championing a Public Bank of Santa Fe. Several years ago, this dedicated nonprofit convinced the City Council to invest in a public bank feasibility study. That study affirmed that it could be done and would be of great...Finding Economic Justice
Recently, Santa Fe community leaders (Mayor Javier Gonzales, Rabbi Neil Amswych, Sensei Joshin Byrnes, Councilor Renee Villarreal, Elaine Sullivan of Banking on New Mexico) spoke on “Economic Justice in Santa Fe” and reminded us to become active participants. The...Follow The Money
The most exciting benefit of a public bank for Santa Fe is the fact that chartered banks actually create new money through a process called “fractional reserve banking.” When getting my MBA in finance, professors talked about it. Wikipedia, Bank of England and others...Reader View: How A Chartered Public Bank Works For Santa Fe
Recently, discussions about a public bank in Santa Fe have increased. This note addresses skepticism expressed about the utility of a chartered public bank. Chartered banks have a marvelous, some say almost magical, way of creating money in the economy by advancing...
Access to Capital in New Mexico is Tightening
The Movement To Stop Dollar Stores From Suffocating Black Communities
By AALLYAH WRIGHT for Capital B News | MAY 17, 2023 — Some say the stores—disproportionately found in low-income, rural, and Black areas—stifle economic growth and job creation and exacerbate food insecurity. For years, the Rev. Donald Perryman wondered why the...
SEED NM 2022 Symposium: Bob Mang on how business guilds can regenerate communities
SEED NM 2022 Symposium: Bob Mang on how business guilds can regenerate communities
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
VIDEO Challenging Misinformation About a NM State Public Bank
Episode: Everyone deserves a public bank
Join those who’ve endorsed a Public Bank for New Mexico
“I had the good fortune to work on this initiative before Bernie kidnapped all my time. This is one of those no-brainer initiatives that only the 1% could oppose. It has the potential to save the state millions of dollars by vastly reducing the cost of its bonds to improve infrastructure funding. in a public bank, our state funds can be used to build our local economy and our local infrastructure.”
– Paul Gibson
Retake Our Democracy