The Post Bank

In the light of previous postings on child poverty and the implications of punitive bank charges, it comes as no surprise that a new coalition of new coalition of trade unions, a business organisation, pensioner and pressure groups and charities have come up with a comprehensive proposal for a new ‘Post Bank’ to run as part of the Post Office Network.

The model for a Post Bank proposed by the coalition would:

  • provide more financial services to people and businesses currently not served by high street lenders.
  • strengthen the role of post offices and the Post Office Network making it more viable, creating new job opportunities, and securing its role for the future,
  • ensure a stable source of finance in the heart of communities, particularly for the three million people still not using banks and the many small businesses looking for alternative sources of finance,
  • link the productive economy with finance through a return to the form of relationship banking abandoned by our biggest banks

The Post Office and its network of 11,500 branches (almost twice the number of the major high street banks combined) is a unique national resource which communities, businesses and individuals around the UK depend on. The Post Bank coalition believes there is a unique opportunity to answer both concerns around secure and equitable finance and the future of the post office network by setting up a Post Bank.

Further reading:
Post Bank Coalition The Case for a Post Bank [