Campaign for Postal Banking is a coalition of consumer, worker, financial reform, economic justice, community, civic, and faith-based organizations building a campaign-based movement to inform and mobilize the public to call on the United States Postal Service to take the necessary steps to restore and expand postal banking at its branches across the country.
Nearly 28 percent of U.S. households (100 million people) do not have access to affordable financial services. nThe United States Postal Service (USPS) is in a unique position to provide basic, affordable, consumer-driven financial services via its existing infrastructure. Non-profit financial services provided by the USPS could help struggling families nationwide achieve financial stability – and strengthen the USPS mission to serve the public.
The coalition was joined by Congresswoman Eleanor Holmes Norton, Reverend Graylan Hagler, Melanie Campbell of The National Coalition on Black Civic Participation, Rich Fiesta of Alliance for Retired Americans, Alex Lawson of Social Security Works and Roger Hickey of Campaign for America’s Future and a lobby full of supporters at U.S. Postal Service Headquarters.
1. What is postal banking? It’s the provision of basic financial services through the USPS, ranging from check cashing to savings accounts, to offering small-dollar loans. 2. Is this a new idea? No! The U.S. had a Postal Savings System from 1911-1967. 3. How did that work? Really well! At its peak, the Postal Savings System held billions of dollars in assets and its government-backed deposits were credited with alleviating the sting of the Great Depression for many account holders. 4. What’s the Campaign for Postal Banking all about? The campaign is a coalition of groups, including the APWU, who are leading the fight to expand financial services offered by the USPS.
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