Don Morgan’s Presentation on YouTube
In January 8th, Don Morgan, CEO of the Bank of North Dakota (BND), was the guest speaker for a special in-person and virtual meeting. As the leader of the nation’s only state-owned bank, Don shared his firsthand experience in leading a state-owned bank that has transformed the North Dakota economy.
We hope these videos deepen your understanding of how a state-owned bank has already made a positive impact by supporting strong communities in North Dakota.
The legislation planned by the Alliance builds on this successful model, with a shared vision of investing New Mexico’s revenue right here at home—inspiring prosperity, resilience, and wellbeing across our communities.
Join us in this exciting initiative! The next nine months will be full of energy and momentum as we build toward 2027—there’s never been a better time to get involved.
His keynote address was recorded and is now available on our YouTube channel in a five part series and a Q&A session. Click here to view.
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.
