USPS – Letter Carriers Consider Bringing Back Banking Services

Saving the Post Office: Letter Carriers Consider Bringing Back Banking Services

Sunday, 12 August 2012 – By Ellen Brown, Truthout | News Analysis

On July 27, 2012, the National Association of Letter Carriers adopted a resolution at their national convention in Minneapolis to investigate the establishment of a postal banking system.

The resolution noted that expanding postal services and developing new sources of revenue are important components of any effort to save the public post office and preserve living-wage jobs; that many countries have a long and successful history of postal banking, including Germany, France, Italy, Japan and the United States itself; and that postal banks could serve the nine million people who don’t have a bank account and the 21 million who use usurious check cashers, giving low-income people access to a safe banking system. “A USPS [United States Postal Service] bank would offer a ‘public option’ for banking,” concluded the resolution, “providing basic checking and savings – and no complex financial wheeling and dealing.”

What is bankrupting the USPS is not that it is inefficient. It has been self-funded throughout its history. But in 2006, Congress required it to prefund postal retiree health benefits for 75 years into the future, an onerous burden no other public or private company is required to carry.     [Read more]

Post a comment or leave a trackback: Trackback URL.

Comments

  • Pauline Franklin  On August 22, 2012 at 12:50 pm

    That would be great. To see Postal Nanking Service return would bring back memories of my young days when my mom had a post office account for all of her children. I think that’s the way to go. My heart hurts to see the where our postal service is today with the advent of technology.

  • ndtewarie  On August 22, 2012 at 1:06 pm

    BRING BACK THE TRAIN FROM ROSIGNOL TO GEORGETOWN, IF EVERY EXPAT GUYANESE PUT $100USD. WE CAN DO IT IF THE GOV’T PROVIDE THE OTHER HALF.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: