Canada needs a postal bank. Thousands of rural towns and villages in our country do not have a bank, but many of them have a post office that could provide financial services. As well, nearly two million Canadians desperately need an alternative to payday lenders. Wouldn’t it be great if there were a better option than the big banks?
A postal bank could be that alternative.
Postal banks already exist in many parts of the world. They are used to:
Our post office used to have a national saving bank up until 1968 - and there is no reason we shouldn’t have one today.
Recently, Irene Mathyssen, NDP MP for London-Fanshawe, has put forward a motion (M-166) to conduct hearings and propose a plan for postal banking. Please send your MP a letter in support of postal banking and to vote in favour of this motion.
You can find your MP here: http://www.ourcommons.ca/Parliamentarians/en/members