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New Mexico Debates Creation of State Public Bank; Idea Supported by CUs
By CUtoday – The NM legislature is debating the creation of a new state public bank, a move that has the support of New Mexico’s credit unions. The goal of the bank is to help the state’s small businesses and spur economic growth. Backers of the project told the news outlet opening a public bank would keep New Mexico’s money in New Mexico, rather than being invested in global banks outside of the state – which they say will lead to better economic development for the state.
NM public bank proposal gains momentum
By Stephen Hamway, Albuquerque Journal – Given New Mexico’s struggles attracting and retaining investment dollars, legislators are considering an unorthodox solution: establishing a statewide public bank. A local nonprofit, Alliance for Local Economic Prosperity, has developed a business plan that outlines the structure and approach for a state public bank, an entity the state could use to deposit assets and support state investment programs.
Albuquerque City Council Supports a Public Bank for New Mexico
Albuquerque City Council Supports a Public Bank for New Mexico
January 20, 2021 – Alliance for Local Economic Prosperity recently gained the public support of the Albuquerque City Council. The City of Albuquerque will join the cities of Santa Fe and Las Cruces in supporting a public bank for New Mexico.
VIDEO Albuquerque City Council Supports a Public Bank for New Mexico
The Importance of Place
By KUNM | January 18, 2021 Listen to Arturo Sandoval, founder of the Center of Southwest Culture, on KUNM's "Espejos de Aztlán" discuss the importance of Place in New Mexico within the context of a rapidly changing world. A New Mexico public bank could help to support...
New push for state public bank in 2021 legislative session
New push for state public bank in 2021 legislative session
By KRQE | January 16, 2021
Watch as Dan Mayfield of the New Mexico Credit Union Association explains to KRQE’s Brady Wakayama and Stephanie Chavez that a New Mexico public bank is “a great low cost, very easy way to make sure small businesses and economic development projects, municipal projects of all kinds, can get capitol pretty quickly.”
New push for state public bank in 2021 legislative session
By Brady Wakayama & Stephanie Chavez, KRQE – There is a new push – backed by several state lawmakers, and now some Albuquerque city councilors – for New Mexico to establish a state public bank. “It’s a great low cost, very easy way to make sure small businesses and economic development projects, municipal projects of all kinds, can get capitol pretty quickly,” said Dan Mayfield, VP of the Credit Union Association.
Building a green economy
By Kevin Robinson-Avila, Albuquerque Journal – The U.S. has emerged from previous economic downturns like today’s pandemic-induced slump by building new infrastructure. And given the immense construction needed to add transmission capacity, modernize grid technology, and build renewable generation facilities, transitioning to a green economy could provide a robust path to recovery while also laying the foundations for new, sustainable industries.
Albuquerque’s Quest to Buy Local Everything
By Oscar Perry Abello, Next City – The City of Albuquerque spends around $400 million a year on purchasing goods and services — excluding any CARES Act spending. About 65 percent of that already goes to local businesses in Albuquerque. “I would say I don’t see us surviving COVID without the City of Albuquerque business,” says Diverse Office Supply CEO Kerry Brennan Bertram. “I’m not exaggerating, I really don’t see how we could have managed.”
State public bank would be valuable asset
Letters to the Editor, Albuquerque Journal | January 6, 2020 In "Turning the Economic Corner Will Take Teamwork" Joe Farr asks, “Why do we have the second highest poverty rate in the U.S., much higher than our neighboring states?” His conclusion is not surprising. We...
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Episode: Everyone deserves a public bank
“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
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