Kicking off the New Year!
Stepping onto the National Stage
We are kicking off the New Year with exciting news. We’re thrilled to announce that on January 8th, Don Morgan, CEO of the Bank of North Dakota (BND), will join us for a special virtual meeting. As the leader of the nation’s only state-owned bank, Don has firsthand experience in leading a public bank that has transformed the North Dakota economy. Don will be in New Mexico on Jan 7-8 to meet with legislators, state officials and allies.
On January 8th, he will give a keynote address—and you are invited to attend virtually in order to learn more about how the BND works.
Click here to register for the Virtual Event.
Photo credit: jeshoots.com on Unsplash
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 May 2023 rates: North Dakota, 2.1%; U.S., 3.7%; New Mexico, 3.5%.
- 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.
- Founded in 1919 with $2 million in capital, BND reported assets of $7.0 billion at the end of 2019, their 100th anniversary. In 2022, their assets were $10.2 billion.
- BND originated or renewed 15,696 loans to state businesses, projects and students, totaling $1.33 billion in their 100th year of 2019. Their total loan portfolio in 2022 was $5.4 billion.
- BND works actively to create successful new businesses to reduce the state’s dependence on oil and gas.
- 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). Their ROI in 2022 was 19%.
Detailed Comparison of New Mexico and North Dakota
BND’s 2020 Economic Development Report: Creating Financial Solutions for Current and Emerging Economic Needs
BND 2022 Annual Report: Game Changer
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.
Create an Impact with Your Donation
Every donation made helps AFLEP continue its mission toward creating thriving communities through New Mexico.
AFLEP’s North Central Regional outreach project continues its success by becoming an integral part of many local communities and inspiring organic change from within. This is all thanks to YOU and your continued support of our mission.
