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. 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.