Northern Launches Baby Bonds Program

Northern New Mexico College (NNMC) marked Financial Literacy Month with a powerful event focused on building generational wealth, promoting financial education, and launching a transformative opportunity for student parents: the Baby Bonds @ Northern program.

Held in the Center for the Arts (CFA) Atrium, the event brought together students, staff, faculty, and community members for an afternoon of inspiration, storytelling, and resource sharing. The program featured remarks from NNMC President Hector Balderas and The Honorable Laura M. Montoya, New Mexico State Treasurer.

A Full-Circle Moment in Leadership

Both President Hector Balderas and Treasurer Laura M. Montoya shared a deeply personal and emotional story about their roots, an experience that resonated with many in the audience. Long before they held public office or led statewide initiatives, they first crossed paths while working at the same small-town grocery store. Montoya worked the front of the store as a cashier, while Balderas managed the produce section in the back.

Their early experiences—earning modest wages, witnessing financial hardship up close, and recognizing the weight of economic insecurity, shaped the values and sense of responsibility they carry into their public service careers today.

“Back then, we didn’t know what financial literacy meant,” said President Balderas. “We just knew what it felt like to go without, and why financial security matters. Every paycheck counted. Every small opportunity mattered.”

“Now we’re here,” added Treasurer Montoya, “working together to launch a program that could change the trajectory of children’s lives across New Mexico. It’s proof that where you start doesn’t define where you end up. But tools like financial literacy and asset-building can make the journey a lot more secure.”

Both leaders emphasized that their shared past serves as a powerful reminder: the right resources at the right time can make all the difference. Their journey from grocery store coworkers to public servants working on landmark initiatives like Baby Bonds highlights the critical role education, financial access, and mentorship play in building more equitable futures.

Their story set the tone for the day’s theme: the power of opportunity, community, and perseverance to transform lives across generations.

The Launch of Baby Bonds @ Northern

One of the most exciting announcements of the day was the official launch of Baby Bonds @ Northern, a pilot program that provides up to $2,000 per eligible child to be invested in a secure, high-yield savings account. These funds, available when the child turns 18, can be used for:

• Education or certification programs

• Starting a business

• Purchasing a first home

• Retirement savings

With support from Partnership for Community Action New Mexico, NNMC became the first college in the nation to offer Baby Bonds to eligible students, providing a meaningful head start for their children’s future. With Baby Bonds, generational wealth can be accessible for all.

The initiative is made possible through MoneyByrd, a public benefit corporation, and Prosperity Works, a New Mexico nonprofit dedicated to economic equity. Baby Bonds is part of a broader statewide effort to pass the Next Generation Act (SB 397)—a legislative initiative aiming to address systemic poverty and bridge the wealth gap for future generations.

Program Eligibility

To qualify for the Baby Bonds program at Northern, applicants must:

• Be enrolled at least part-time at NNMC

• Qualify for financial aid or demonstrate financial need

• Be raising a child between newborn and six years old

• Submit a 1–3 page personal statement on how the program will impact their family

• Provide a notarized statement if they are a legal guardian (not the biological parent)

Note: Funding is limited and will be awarded on a first-come, first-served basis.
Contact: khiana.valencia@nnmc.edu

 

Honoring Prosperity Works and Local Changemakers

The event also honored Prosperity Works, whose mission is to support low-income New Mexicans through innovative programs including fair lending tools, energy bill relief, homeownership support, and financial education.

Financial Literacy 101 and Giveaways

In addition to the launch announcement, guests were invited to sign up for Financial Literacy 101, a hands-on workshop series designed to help students navigate real-world financial decisions, such as budgeting, managing student loans, building credit, and planning for future investments. The workshop will be offered through NNMC and led by professionals committed to providing accessible and culturally relevant money education.

To make the event both engaging and celebratory, attendees were treated to a lively atmosphere complete with:
1. Nachos, cake, and refreshments, offering time to relax and connect
2. Custom budget planners to help participants begin their financial journey
3. Money plants, symbolizing growth and prosperity, for every guest to take home
4. Raffle prizes, including a YETI cooler, backpacks, and over $260 in gift cards to support local businesses

A Message of Hope and Opportunity

In his closing remarks, President Balderas emphasized the broader vision behind Baby Bonds and the importance of investing in people, not just programs.

“This isn’t just about dollars,” President Balderas said. “It’s about dignity, security, and giving our children a future we can be proud of.”

He spoke to the heart of the college’s mission: to empower students and their families not only through education, but through access to resources that can truly change lives. Balderas highlighted how initiatives like Baby Bonds represent a shift in how we support students, by acknowledging the real challenges they face and working together to break cycles of poverty through innovation and compassion.

The crowd left with more than raffle prizes and refreshments, they left with a renewed sense of possibility and a reminder that Northern isn’t just a place to learn, it’s a place to grow, thrive, and build lasting legacies.

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This event was jointly sponsored by Title V F2F, CASSC, and the Office of the President at Northern New Mexico College.

For more information about the Baby Bonds program, please contact khiana.valencia@nnmc.edu and for Financial Literacy 101 contact  kristy.alton@nnmc.edu