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Prosperity About Contact Leadership Team Advisory Board Our Story Jobs Public Banking for New Mexico A Public Bank Defined FAQs Public Banking in New Mexico The National Movement Bank of North Dakota Resources In the News In the News AFLEP in New Mexico Press & Media Press Releases Case Statement History Timeline Fact Sheet Glossary of Banking Terms Videos Podcasts Get Involved Ways to Get Involved Endorsers Gallery Allied Organizations Add your Personal Endorsement Add your Organization’s Support Enews Signup Events Calendar Donate Select Page Keeping New Mexico’s Revenue Safe, Local, and Working How a Public Bank Will Strengthen NM Finance Farm in the Agri-Cultura Network in South Valley, NM. From our videoGrowing a Prosperous Future ” by LittleGlobe The Public Bank of North Dakota has kept their public funds safe, local and working for more than 100 years. In 2020, BND reports a ROI at 15% and assets totaling $7.7 billion Photos courtesy BND.com Credit Union Association of New Mexico Endorses a Public Bank for New Mexico Credit Union Association of New Mexico Endorses a Public Bank for New Mexico Read CUANM’s full endorsement here Ballooning New Mexico|@Yancy|Flickr How Can a State Public Bank Support Our Communities? Infrastructure, Renewable Energy, Agriculture, Economic Development & Recovery Researcher and interns of Sandia Labs at Pueblo of Acoma discuss photovoltaic solar panel. Photo courtesy Sandia Labs via Wikimedia Commons. Working together let’s establish a Public Bank for New Mexico, to finance the bold changes it will take for our communities to overcome today’s obstacles and seize tomorrow’s opportunities. The Alliance for Local Economic Prosperity (AFLEP) is a nonprofit, grassroots think tank advocating for a state public bank. New Mexico’s revenue (taxes and fees) is now largely invested in global banks outside the state, missing opportunities to invest in the economic needs of New Mexico communities. Learn more: Why a Public Bank? Ways to Get Involved Enews Signup Watch our new video about one incredible farm cooperative in Central New Mexico, which provides food, trains farmers, and incubates businesses, talk to us about the financing challenges faced by farmers and small businesses. A Public Bank in New Mexico could be a vital resource to invest in local food production, job creation, and a stronger local economy. Endorse a Public Bank for New Mexico Endorse a public bank so public officials and friends know you support public banking and why. Jesse Guillen read quote Senator Peter Wirth Sawtell, Wirth & Biedscheid, P.C. read quote Paul Gibson Gibson & Associates read quote Carmen Lopez read quote Glenn Schiffbauer Executive Director Santa Fe Green Chamber of Commerce read quote Ellen Brown Author & Founder Public Banking Institute read quote Endorsements from community members and leaders across New Mexico are extremely helpful to us, as we speak with Legislators – to show the growing support for public banking. View Full Endorsers GalleryAllied Organizations that support what a State Public Bank can do for our economy Add Your Organization’s Support Read Statement Read Statement Read Statement Read Statement Read Statement Read Statement View All Allied OrganizationsNational News What Silicon Valley Bank’s Collapse Says About Banking And Community Mar 14, 2023 By Oscar Perry Abello for NextCity | MARCH 13, 2023 Focusing on wealthy people and their startup investments is not a sign of good risk management at a bank. Banking has never been about avoiding risk. It’s about managing risk. For years, especially... Will a public bank prove recession-proof for East Bay cities? Mar 10, 2023 By KATIE LAUER for SiliconValley.com | February 26, 2023 Financial lending would focus on affordable housing, small business, green energy and municipal finance Image above: Trader Michael Gallucci works at his post on the floor of the New York Stock Exchange,... Local Governments’ Vital Role in Getting Small Businesses the Funding They Need Feb 15, 2023 Opinion by Ilana Preuss for Governing.com | February 14, 2023 Due to racial bias and other disparities, too often they aren’t bankable” and struggle to obtain loans essential for their success. Some programs are leading the way in achieving more-equitable outcomes.... OLDER NEWS ENTRIESNew Mexico News Revolving fund bills show gaps in NM financial capacity May 8, 2023 by Angela Merkert, Executive Director, AFLEP — Whew! That 60 day session went by fast. Over 240 bills were passed of the more than 1000 filed. A number of those bills will support increased local economic prosperity. We are grateful for legislative support for... Life Link + Homewise Partnership Delivers More Than Financing Jan 23, 2023 Partnership Delivers More Than Financing The Life Link in Santa Fe rents and owns multiple buildings where it delivers a multitude of services. When management wanted to create synergy around some of those services by housing them under one roof, the nonprofit... OLDER BLOG ENTRIESSEED NM 2022 Symposium: Bob Mang on how business guilds can regenerate communities SEED NM 2022 Symposium: Bob Mang on how business guilds can regenerate communities Bob Mang, Re-Genesis Inc, Co-Founder (Retired) and AFLEP Board member , talks about rural economic development and how business guilds can regenerate communities. WATCH MORE AFLEP VIDEOSUpcoming Events Current Month No Events on The List at This Time See All Events Public Banking Institute Accross the nation, more than 25 initiatives and 50 grassroots organizations are advocating for the chartering of public banks. Learn more about the National Movement and the work of our national affiliate, the Public Banking Institute . Signup for Public Banking Institute’s newsletter New Mexicans deserve the prosperity a public bank has provided North Dakotans North Dakota had the lowest unemployment rate in the nation during the 2007-08 recession. Current Sept 2022 rates: North Dakota, 2.3%; U.S., 3.7%; New Mexico, 4.5%. Bank of North Dakota (BND) has added to the state’s annual operating budget $300+ million over the past 10 years. North Dakota community banks are thriving because of their partnerships with BND: 10 community banks per 100,000 population, the highest in the U.S. BND originated or renewed 15,696 loans to state businesses, projects and students, totaling $1.33 billion in 2019. The total loan portfolio is $4.5 billion. BND works actively to create successful new businesses to reduce the state’s dependence on oil and gas. Founded in 1919 with $2 million in capital, BND reported assets of $7.0 billion at the end of 2019. BND responded to the COVID-19 crisis with confidence in 2020, filling the gaps that federal programs didn’t support and seeing a 15% Return on Investment (ROI). Detailed Comparison of New Mexico and North Dakota BND’s 2020 Economic Development Report: Creating Financial Solutions for Current and Emerging Economic Needs BND 2020 Annual Report: Responding with Confidence Enews Signup Form Zip Code Subscribe CONTACT info@aflep.org Alliance for Local Economic Prosperity P.O. Box 33132 Santa Fe, NM 87594 Jobs Development Manager/Grant Writer Outreach Coordinator Latest Tweets Tweets by AFLEP_NM Facebook Twitter Instagram RSS Copyright © 2020 AFLEP / Privacy...