Bankers lament no one
wants their money

ALBUQUERQUE (KRQE) - Despite the national angst over tight credit, New Mexico bankers want consumers considering big-ticket spending to come see them.

Locally owned banks have plenty of money to lend, according to the New Mexico Bankers Association which may launch an advertising campaign to get the word out.

Most banks have been hit hard by the credit crunch, with the exception of those in New Mexico.

"Our banks in New Mexico do have money to loan," Patrick Dee, president of First Community Bank, told KRQE News 13.

Lines of credit for the majority of locally owned New Mexico banks are wide open, according to Dees. They have millions ready to loan, but there's one crucial piece missing: consumers.

"I would say ballpark we're probably off 30-40 percent from where we were a year ago in terms of new loan requests," Dees said.

The bankers association is trying to help banks in the state get the message out.

"One of the things we have talked about through the New Mexico Bankers Association is trying to get more publicity, maybe even buying ads in the media," Dees said.

They are discussing even starting a public service announcement campaign to get the message out that New Mexico banks are in good shape.

"It's very rare, at least in the last five year, that banks have had to advertise for loans," Dees said. "They do it from time to time, but generally the consumer has been in a spending mode.

"Now the consumer has gotten more conservative."

For now banks and consumers are of the same mind on one thing.

"We have to wait and see what happens," Dees said.

The bankers association is still in the beginning stages of putting together any advertising campaign.