About Us

AFLEP Core Team - Fall 2019

AFLEP Leadership Team: (left to right, back row), George Gamble, Elaine Sullivan, Melissa Pickett, Robert Mang, and Vern Hagen; (front row), Dee Gamble (community partner), Ada Browne, Vicki Hagen, Rebecca Jasso-Aguilar, and Angela Merkert.

 

Our Story

 

Our mission is to promote local control of the management and investment of local resources through democratic decision-making for the common good.

 

The Alliance for Local Economic Prosperity is the successor to Santa Fe based Banking on New Mexico and Public Bank for Central New Mexico in Albuquerque, formed to study the benefits of – and to advocate for – Public Banking for New Mexico as a tool to keep New Mexico revenue local, safe and working for New Mexicans.

The idea of a public bank in New Mexico was first introduced in 2012 by the Santa Fe grassroots organization WeArePeopleHere! as a tool to decrease the loss of revenue to global banks outside the state and with that revenue, improve the state’s faltering economic health. The group initially researched “if and how” a public bank could address social and economic justice needs in New Mexico. Inspired by the pioneering work of civil rights lawyer/radio host and author, Craig Barnes, a public banking initiative, Banking on New Mexico, (BoNM), was begun.

Angela Merkert, the Executive Director for the new Alliance, was an early participant in Craig’s working group. After moving to Albuquerque in 2014, she joined a faith-based study group researching economic reform tools that focused on Ellen Brown’s pioneering research on public banking in the US and globally. This study led to the formation of the Central New Mexico initiative.

Both groups undertook research and discussions with business, education, community, and political leaders across the state about the concept, which is largely based on the 100 years of profitability and economic stimulation fostered by the Bank of North Dakota, the first public bank in the US.

In 2014, BoNM co-hosted an international public banking symposium in Santa Fe, bringing together County and City leaders with national experts in economics, government finance, US public banking initiatives and a representative from the German public banking system. The Albuquerque group hosted a similar event in 2015, more locally-focused, convening City and State officials with leaders from business and higher education.

After it was determined that New Mexico’s political climate was not yet receptive to a statewide public bank, Santa Fe considered public banking. The Mayor and Governing Body studied whether a public bank could generate revenue and reduce expenses for the city. A city council-commissioned Feasibility Study reported in 2016 that a city-owned public bank was feasible and in 2017 the Mayor and City Council appointed a nine-member Task Force to continue the research. The Santa Fe Public Bank Task Force determined that the City’s cash resources were not sufficient to establish a chartered bank. They also determined that the New Mexico Constitution’s anti-donation clause could present a legal barrier. The Task Force concluded, however, that the idea of public bank at the state level was worthy of consideration.

Acting on the Task Force’s recommendations, Santa Fe City Council passed an October 20, 2018 Resolution to support the State’s exploration of a public bank.

Following the Santa Fe Public Bank Task Force’s spring 2018 report, the leadership of Banking on New Mexico and of Public Bank for Central New Mexico initiated planning meetings which led to the creation of the Alliance for Local Economic Prosperity.

 

Upcoming Events

november, 2020

03novAll DayElection DayNovember 3rd is Election Day! Vote if you haven't already.

05nov3:00 pm4:00 pm2020 Sustainable Agriculture Fall Workshop Series: Drip Irrigation on the Small FarmLearn how and why drip irrigation can be useful for your growing operation

09nov11:00 am12:00 pmWhat has COVID-19 taught us about the digital and opportunity divides in America’s schools?A Brookings Policy 2020 Event

10nov1:00 pm2:00 pmGreater Profitability through Soil HealthA collaborative fall webinar series for the benefit of New Mexico’s farmers and ranchers and advancement of healthy soil principles on working lands

13nov10:00 am11:00 amPublic Banking Coalition Monthly Conference CallLearn more about Public Banking, discuss current issues and get updates on the movement.

23nov6:30 pm8:00 pm350NM Speaker Series - Land Witness Project: Climate Stories from NMStories about families and traditions, land and water, doubt and worry, and love and commitment

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
FAIR / Truthout.org

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

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