Public Banking for New Mexico

The Bank of North Dakota

The highly successful Bank of North Dakota has been owned and operated for the benefit of the people of North Dakota for 100 years. The Associated Press reports that in 2017 the Bank of North Dakota (BND) recorded its 14th consecutive year of record profits, with $145 million in net earnings.  BND has helped North Dakota maintain a low unemployment rate, large state government budget surpluses, a robust network of community banks, and high credit availability even during economic crises.

The Bank of North Dakota’s success could be the Public Bank of New Mexico’s.

  • Founded in 1919 with $2 million in capital, (BND) reported assets of over $7 Billion in 2017.
  • BND is highly profitable, with an ROI of 18% for 2018.
  • BND posted its 15th year of record profits at $159 million in 2018.
  • BND originated or renewed 17,299 loans totaling $1.33 billion in 2018.
  • Community banks are thriving because of their partnerships with BND.
  • North Dakota has the lowest unemployment rate in the nation.
  • BND has added to North Dakota’s annual operating budget $300 million+ over the past 10 years.

Read a detailed comparison of New Mexico and North Dakota demographics, and contributions to state budgets and economies by New Mexico Permanent Funds vs BND sources. 

Bank of North Dakota Celebrates 100 Years, Dec. 8, 2018

Read BND 2018 Annual Report

Read BND 2017 Annual Report

Read BND Postsecondary Education 2018 Report

Read BND Economic Development 2018 Report

Read BND Financing Economic Development 2017 Report

 

 

 

What is a Public Bank?

The National Movement

History of Public Banking in New Mexico

FAQs

Resources

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
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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