Why We Need Postal Banking: Statements from Leaders

Why We Need Postal Banking

December 17, 2015


Tens of millions of seniors rely on the US Postal Service as one of the most trusted institutions in America. It’s the perfect fit to offer no-fee ATMs and electronic funds transfer.

– Alex Lawson, Executive Director, Social Security Works



Nearly 28% of U.S. households are underserved or completely denied by traditional banks and are forced to turn to payday lenders, check cashing operations and other shady operators. These families are forced to spend as much as 10 percent of their meager incomes on fees and services, and are hit with triple digit interest rates and outrageous fees for basic financial services.


We should enable the U.S. Postal Service to provide consumer financial services, like paycheck cashing, through its 30,000 local branches. That’s a real solution that serves the public, not Wall Street.

– Chris Shelton, President, Communications Workers of America



The United States has two separate banking systems today—one serving the well-to-do and another exploiting everyone else.  There are millions of individuals whose otherwise stable financial lives can be upended by one unexpected event that snags them in an otherwise temporary liquidity crunch.


After years of experience and research in banking law, I have come to the conclusion that the best way to level the playing field for credit in the United States is postal banking. In fact, postal banking was the largest and most successful experiment in financial inclusion in U.S. history and remains the primary tool for financial inclusion across the world.  A public option in banking would balance the scales of government support for the banking industry and could potentially drive out the usurious fringe-lending sector, which profits from American’s financial woes.

            – Professor Mehrsa Baradaran, University of Georgia School of Law, and author of How the Other Half Banks: Exclusion, Exploitation and the Threat to Democracy



The big banks have abandoned our communities and left us to predatory payday and car title lenders. But the US Postal service has the authority to provide an affordable, high quality public alternative right now. It’s time for the Post Master General to act — our families can’t wait.

– Liz Ryan Murray, Policy Director, National People’s Action

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