By Christo Aivalis in the last months, the dispute between Canada Post (CP) and also the Canadian Union of Postal Workers (CUPW) has garnered attention, both for what sort of labour stoppage will impact Canadians, in addition to the way the present negotiations form a bellwether for future years of good jobs. But just what has maybe slipped towards the wayside are conversations around modernizing CP without succumbing to precarity, solution decrease, and gradual privatization. Within my view, not one proposition is more powerful in this respect than Postal Banking.
In easy terms, Postal Banking could be the usage of CP’s infrastructure to supply an array of banking services around the world. This may vary from basic chequing and savings reports to microloans to people and smaller businesses at low interest.
The possibility advantages of postal banking are far reaching: it could offer good jobs, available general general public services and pose a challenge to predatory loans.
1. Postal Banking can benefit little, separated, and marginalized communities.
Finally, the principal advantage of postal banking provides solutions to your a huge selection of communities which have a postal socket but no bank. For those communities, getting routine services that are financial hard. On the web banking options have significantly mitigated these barriers, yet many remote communities have actually spotty service that is internet. Postal banking hence unleashes CP’s vast retail community in the interest of Canadians. Read more