Credit Unions in New Mexico ENDORSE Public Banks

Posted on November 16, 2020Comments Off on Credit Unions in New Mexico ENDORSE Public Banks

New Mexico’s Alliance for Local Economic Prosperity announced that the Credit Union Association of New Mexico, a statewide trade organization that advocates for credit unions, has formally endorsed a public bank for NM. This is a key endorsement and bolsters the group’s growing alliance to advance upcoming legislation that will be introduced in 2021. From ALEP’s release:

“Paul Stull, President and CEO of CUANM, gives three compelling reasons to support a public bank:

  • Increased opportunities
  • Economic resilience
  • Prosperity for New Mexico

“‘While federal and state financing has been made available, it falls far short of assuring New Mexico’s progress in changing the current lack of economic development, jobs and opportunity,’ Stull said. ‘There is a need for creativity and rethinking age-old practices that may be good at preserving the status quo, but fail to bring about increased opportunities to build infrastructure, solve decades-old housing problems and create jobs through new capital investment.’

“‘Now is the time for New Mexico to end its reliance on banking services that have no benefit to our state. A public bank focused on New Mexico is the answer,’ he said.”

Comments Off on Credit Unions in New Mexico ENDORSE Public Banks