[Occupymendocino] Fwd: Introducing postal banking

[Richard Karch]

> 
> Reply-To: action at usaction.org
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> 
> Dear Friend,
> 
> How do you cash a check if you don’t have a bank account?
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> You are forced to use a place like a payday lender, check cashers or other financial predators and spend nearly 10 percent of your income on fees and services.
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> Nearly 28% of U.S. households are underserved by traditional banks. The number of bank branches in the United States is declining and low-income neighborhoods have been hardest hit. Since 2008, 93% of those closings have been in neighborhoods with a median income below the national average. We need to expand the options.
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> There is a simple solution: postal banking. More than 30,000 branches of the U.S. Postal Service can provide affordable, nonprofit, consumer-driven financial services ranging from paycheck cashing and bill payment to savings accounts and small dollar loans.
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> Sign the petition to enact post banking now!
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> The USPS can act now to:
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> Install surcharge-free ATMs that make it possible for recipients of public benefits to access funds without paying a fee;
> Expand services to include payroll check cashing; and
> Provide bill paying and electronic funds transfers.
> For those without access to traditional banks as well as those looking for an alternative to the Big Banks, postal banking is a real solution that serves the public, not Wall Street.
> 
> I would love to say we came up with this brilliant idea on our own, but postal banking is not new. The Postal Savings System operated from 1911 through 1966, accepting savings deposits guaranteed through the full faith and credit of the United States. By 1947, postal banks had about 10 percent of the entire commercial banking system.
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> Join with us and a coalition of partners to tell the Postmaster General to implement postal banking now. This strengthens the United States Postal Service while they are under attack and provides a non profit banking option for all Americans.
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> Act now to make postal banking a reality!
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> Thanks for all you do,
> 
> Katy Griffith Boswell
> USAction
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> P.S. Click here to learn more about postal banking.
> 
> CONTRIBUTE »
> USAction, 1101 17th St. NW, Suite 1220, Washington, DC 20036
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