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

august, 2020

04aug6:30 pm7:30 pmNew Mexico State Election StrategiesWho Can Win, Who Needs a Push and What YOU Can Do

05aug8:30 am2:00 pmNew Mexico Clean Energy Economy Town HallRegistration closes Aug. 4 at 12 p.m.

14aug10:00 am11:00 amPublic Banking Coalition Monthly Conference CallLearn more about Public Banking, discuss current issues and get updates on the movement.

18aug11:45 am1:00 pmLunch with a Leader: Establishing a Public BankJoin AFLEP and League of Women Voters for a conversation about how a state public bank can lead to a supportive, resilient economy.

18aug5:30 pm7:00 pmSoil Stories with Emily Arasim and Donne GonzalesOnline conversations on soil health

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