NALC and APWU to push banking services at post offices

pbiAt a conference on public banking services held by the Public Banking Institute (PBI) in San Francisco last month, two postal unions announced that they would join forces to push for the reinstatement of simple banking services in post offices:

James Sauber, the chief of staff of the National Association of Letter Carriers announced that both his union and the American Postal Workers Union will partner with PBI in a campaign to reinstate simple checking and savings accounts in post offices. The U.S. Postal Service offered simple affordable banking services used by many working class people from 1911 to 1967 when the system was dismantled. “In the 1940s, 4.2 million American had accounts at the post office,” Sauber said. In other countries, postal banks remain important institutions, most notably in Germany, Britain, New Zealand launched in 2002, Brazil launched in 2000 and Italy, although Japan is beginning to privatize its postal bank, the largest in the world. The U.S. postal workers are intrigued not only by postal banks’ potential to offer social inclusion—28% of Americans don’t have full access to banking services—but also by the revenue generated that supports the postal system as a whole. “Don’t dismantle this institution—reinvent it,” he said.

Read more: Banking on the Public: Going Postal, North Dakota and Other Finance Alternatives.

  • Jack

    Wake up and smell the coffee.
    Have you been in a bank lately ?
    People rarely need to.
    Close Saturday and stop imagining
    that things will get better.
    What a joke. The last place I would
    bank is the Postal Service and I work

    • hollywood

      ” I work their” —Learn to spell and maybe a promotion is due .

  • Mailmam

    Just a thought. How many of the countries that you mention are having financial difficulties? I’m with Jack, even if he is too creative to spell perfectly.

  • Insider

    What a joke. Would my savings be treated with the same disregard as the mail – check out a Postal rewrap section, or the Mail Recovery Center. I would have ZERO confidence in Postal banking!