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Economics, Governance, Justice & NESARA legal issues, Media, Relations

Investigate the Establishment of a Postal Banking System

Whereas, 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; and

Whereas, many countries, including Germany, France, Italy and Japan,
have a long and successful history of postal banking, where customers
do their basic banking at their neighborhood post office; and

Whereas, in the U.S. a Postal Savings system operated successfully
from 1911 to 1967, providing a safe and efficient place for customers
to save and transfer funds – until it was killed under pressure from
the banking industry. Postal Savings was set up to attract the savings
of immigrants accustomed to saving at post offices in their native
countries, provide safe depositories for people who had lost
confidence in private banks, and make it more convenient for working
people than private banks (since post offices were open substantially
longer than bankers’ hours); and

Whereas, postal banks, called Kiwibanks, are now thriving in New
Zealand, with bank branches called PostShops in local post offices –
“putting us in more locations than any other bank in New Zealand
literally overnight (without wasting millions on new
premises!)” [Kiwibank website] In an early “move your money” campaign,
New Zealanders voted with their feet. In an island nation of only 4
million, Kiwibank attracted 500,000 customers away from the Australian
big banks in just four years; and

Whereas, the giant banks that dominate the U.S. financial and
political system are corrupt institutions that defrauded homeowners in
the mortgage scandal, and engaged in  complex multi-Billion dollar
hijinks that brought on the 2007-09 financial crisis. The American
working people have lost faith in these banks as a trustworthy place
to put their hard-earned money; and

Whereas, a USPS bank would offer a “public option” for banking,
providing basic checking and savings – and no complex financial
wheeling and dealing. Postal banks could serve the 9 million people
who don’t have a bank account and 21 million who use usurious check
cashers, giving low-income people access to a safe banking system; and

Whereas, the Post Office is uniquely positioned, with a lot of
branches around the country and an already successful business in
money orders. It is a trusted and venerable institution older than the
Constitution, at a time when people do not have much trust in banks.
It is funded not with taxes but with postage stamps, which buy the
labor and machines to transport your letter 3000 miles. It is the only
U.S. agency that serves all its customers six days a week. And it is
perhaps the last form of communication that protects privacy, since
tampering with the mail is against federal law; and

Whereas, the Post Office should be saved and it can be saved. A Postal
Bank, combining teller services with postal services, could help
achieve this, while at the same time offering a competitive
alternative to a runaway Wall Street banking monopoly that Congress
seems unable to control.

Therefore be it resolved, that the NALC and other postal unions
investigate the possibility of the establishment of a Postal Banking
System in the U.S. – drawing on the rich experience of successful
postal banking in Germany, France, Italy, Japan and New Zealand – and
using our unprecedented network of post offices to provide safe basic
checking and savings to our hundreds of millions of postal customers.



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