Question

The idea of using post office has banking facilities has gained importance why

Answer 1

Postal banking has since gained traction with postal unions, which have been fighting to save the USPS—both by easing irresponsible congressional requirements for pre-payment of retiree benefits seventy-five years into the future and by expanding the range of services that post offices provide. In 2012, delegates to the National Association of Letter Carriers convention backed a resolution that declared, “A USPS bank would offer a ‘public option’ for banking.” The new president of the American Postal Workers Union, Mark Dimondstein, wants the USPS to provide “a nonprofit alternative to the big banks” that “would give the working poor an alternative to the legal loan-sharking they are now victimized by. It also would provide another source of revenue.”