REDACTED: Canada Post report shows postal banking is “win-win strategy”
In the winter of 2014, Blacklock’s Reporter, a small news outfit based in Ottawa, released an explosive story. For years, Canada Post management had been quietly putting together a well-documented report on postal banking. The report, which ran over 800 pages long, included a section entitled, “Banking: A Proven Diversification Strategy.” Its conclusion left little room for doubt: postal banking was “a win-win strategy” that would secure the future of the postal service while providing accessible banking services to all Canadians. As new challenges cropped up, Canada Post needed to diversify. What better way forward than to follow dozens of countries where postal banking had already found success?