Category Archives: Postal Banking

A Post Office Bank — An Institution that Could Greatly Reduce the Usury of Predatory Lenders

A concept that is very closely related to a Public Bank is that of a Post Office Bank. They are both institutions that can help wrestle power away from the big Wall Street Banks and better support Main Street. Post Office Banks could be part of the transformation of our financial sector by providing services to those individuals in underserved communities for whom banking is not possible. One-in-four American households are “unbanked” — either partially or completely excluded from the current banking system. These individuals generally live in underserved communities that are routinely victimized by predatory payday lenders and where there is almost always a United States Postal Service (USPS) branch.

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Public Banking in the Press: Public bank advocates gain advice from experts – A Report from the Banking On New Mexico Symposium

The following article, from the Santa Fe New Mexican, is a report from the Banking on New Mexico Symposium: Funding Local, Sustainable Economies held in Santa Fe on September 27, 2014. The format of Banking on Colorado: Bringing Our Money Home Conference, to be convened on January 31, 2015 is very similar to the Santa Fe symposium, with some of the same nationally know speakers.

From The Santa Fe New Mexican:


Public bank advocates gain advice from experts

Posted: Saturday, September 27, 2014 10:00 pm | Updated: 11:18 pm, Sat Sep 27, 2014.


By Ed Moreno
For The New Mexican

The path to establish a publicly owned bank will be scattered with legal and political obstacles, but scores of citizens, public officials and public finance experts gathered in Santa Fe on Saturday to make the case that it can, and should, be done.

The spirited gathering, organized by “We Are People Here,” brought local, national and international perspectives on why it is necessary to try to establish publicly owned and operated banks that serve local communities, and not the “plutocracy” that controls the nation’s wealth, the event’s organizer said.

“We are gathered here because we recognize to the degree greater than in any time in the last 40 years that we are on our own,” said Craig Barnes, the founder of the organization. He cited the concentration of wealth and power and said “the life’s blood is being sucked away from our local communities.”

“We’re not here to blame, we’re not here to complain. We’re here to get up off our knees, because it’s in our nature as Americans to be on our feet,” he said.

Continue reading Public Banking in the Press: Public bank advocates gain advice from experts – A Report from the Banking On New Mexico Symposium