Public Banking for New Mexico

History of Public Banking in New Mexico

2019 NM House Memorial 41 – State Public Banking Feasibility Study

Santa Fe Public Bank Task Force

Press Releases

AFLEP Case Statement


Santa Fe Public Bank Task Force members: Kelly C. Huddleston, Robert A. Mang, Adam Johnson, Darla Brewer, David P. Buchholtz, J. Wayne Miller, Elaine Sullivan, Judith A. Cormier, Ralph M. Hibben


Key milestones of our public banking work in New Mexico include:

  • September, 2014 – City of Santa Fe, Public Banking Institute and WeArePeopleHere! host international symposium on public banking, resulting in the establishment of Banking on New Mexico and continued exploration of a public bank by the city.
  • January, 2015 – City Council contracts Building Solutions LLC (Principal, Katie Updike) to conduct Public Bank Feasibility Study
  • November 23, 2015 – BoNM presented the mayor and city attorney a definitive legal opinion from David Buchholtz of the Rodey Law Firm that New Mexico Constitutional and Civil Law and financial regulations permit the chartering of a public bank.
  • January, 2016 City of Santa Fe Feasibility Study reports a public bank is economically and operationally feasible
  • January, 2016 – BoNM releases its Five-Year Model, confirming a public bank can provide new income and interest savings for city
  • April, 2017 – City Council votes unanimously to establish the Public Bank Task Force proposed by Councilor Villarreal
  • August, 2017 – Public Bank Task Force work begins
  • April, 2018 – Task Force concludes research and presents final report to Santa Fe City Council Finance Committee
  • May, 2018 – Public Bank Task Force presents conclusions & recommendations to Santa Fe City Council
  • October, 2018 – Santa Fe City Council passes Resolution to support efforts to study a state-owned Public Bank
  • December, 2018 – BoNM and PBCNM join forces, forming statewide non-profit:
    Alliance for Local Economic Prosperity
  • January, 2019 – NM Senator Jeff Steinborn, (D) sponsors Senate Memorial 5, calling for a State Public Bank Feasibility Study
  • February, 2019 House Memorial 41, co-sponsored by State Representatives Matthew McQueen, Linda Trujillo, Joanne Ferrary, and Dayan Hochman-Vigil, was introduced calling for research into state public bank benefits including: reduced bonding expenses, lower cost funding for infrastructure, economic development and educational facility projects. The Legislature adjourned before the memorial could be acted upon.

What is a Public Bank?

The Bank of North Dakota

The National Movement



Upcoming Events

october, 2020

01oct3:00 pm4:00 pm2020 Sustainable Agriculture Fall Workshop Series: Seed Saving and On-farm BreedingLearn what it takes to be your own plant breeder and understand concepts of genetics and plant selection

08oct3:00 pm4:00 pm2020 Sustainable Agriculture Fall Workshop Series: Strategies to Prevent Development and Spread of Herbicide-Resistant WeedsWeeds in the garden and farm can become resistant to our most depended-upon herbicide treatments

08oct5:00 pm6:30 pmBring on the Power of Public Banking for FloridaLearn how public banks have been shown to respond more rapidly, effectively and equitably to crises than privately-owned banks

09oct10:00 am11:00 amPublic Banking Coalition Monthly Conference CallLearn more about Public Banking, discuss current issues and get updates on the movement.

13oct1:00 pm2:00 pmKeeping the Water we do get –in the Soil!A collaborative fall webinar series for the benefit of New Mexico’s farmers and ranchers and advancement of healthy soil principles on working lands

15oct3:00 pm4:00 pm2020 Sustainable Agriculture Fall Workshop Series: Beneficial Insect Identification and Habitat ManagementLearn why cultivating the insect ecosystem on your land is pertinent to sustainable agriculture

21oct6:00 pm7:00 pmPublic Banking and YOU!What is a public bank and why is it good for New Mexico? Join Democratic Party of Bernalillo County & AFLEP to find out.

22oct3:00 pm4:00 pm2020 Sustainable Agriculture Fall Workshop Series: Growing vegetables in NM – Managing challenges for an abundant harvestAn informative overview on the farming and gardening methods pertinent to the southwest climate and soil

22oct7:00 pm8:00 pmBring On the Power of Public Banking: How to Rescue Main Street Post COVID-19Public Banking Institute's Town Hall for Butte County, Northern California

23oct2:30 pm3:30 pmPublic Banks vs. the Racial Wealth GapCould a publicly-owned bank be the real solution to a history of harmful private bank practices?

29oct3:00 pm4:00 pm2020 Sustainable Agriculture Fall Workshop Series: Pruning Fruit Trees for Sustainable Production: Why, When, and HowGet a grasp on fruit tree management, especially pruning

Revolution at the Federal Reserve:  Nomi Prins and Thomas Hanna

The Laura Flanders Show
Jan 22, 2019

As Jim Yong Kim resigns from the World Bank, we talk about the way central banks steer world development and for whom. Former Goldman Sachs managing director Nomi Prins, author of “Collusion: How Central Bankers Rigged the World,” and public ownership researcher Thomas Hanna believe that banking, and development, could be very different.

Truthout - FAIR Podcast - AFLEP

California’s New Public Banking Option Opens Door for Real Community Investment

Economy & Labor
Oct 22, 2019

Janine Jackson interviews Public Bank LA’s Trinity Tran about public banking for the October 11, 2019, episode of “CounterSpin.”

>> Listen to the Podcast

It's Our Money with Ellen Brown

Banking on the People by Ellen Brown - AFLEP

Ellen Brown’s
2019 Book

Today most of our money is created, not by governments, but by banks when they make loans. This book takes the reader step by step through the sausage factory of modern money creation, explores improvements made possible by advances in digital technology, and proposes upgrades that could transform our outmoded nineteenth century system into one that is democratic, sustainable, and serves the needs of the twenty-first century.

Order the Book

Join those who’ve endorsed a Public Bank for New Mexico

Paul Gibson endorses Public Banking NM


“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