Postal banking will serve Canadians better than the big banks

Illustration of Justin Trudeau leaning up against a bank column while filing his nails. Two panicked people search their empty pockets and purse. A masked person is walking away with bags displaying logos from Canadian banks.


Tell your MP to ignore the bank lobby and listen to us


"Canadians are well-served by their banks” - that’s what a spokesperson for the Canadian Bankers Association said in response to a news report that the federal government’s finance committee will hold new hearings into banking practices in Canada.

 

The call for these hearings was prompted by investigative reporting by the CBC that found widespread evidence that bank employees were being pressured to “upsell” customers with services they did not need.

 

The reality is that’s the tip of the iceberg. The truth is that Canada’s big banks have worked to block alternatives that would better serve Canadians. At the top of that list is postal banking, which could take the form of a publicly-owned alternative to the for-profit banks. It would provide more accessible banking to millions of Canadians. Postal banking would also be a profitable expansion of Canada Post - a win-win if ever there was one.

 

So why has the government yet to seriously consider postal banking? The big banks also have a big and and powerful lobby - they are a political force. The only thing that can counter the bank lobby is a people’s lobby.

 

That’s where you come in. Over 20,000 of you have already signed a petition demanding the government consider postal banking.

 

Now, the largest unions that represent postal workers in Canada, the CUPW and CPAA, have set up an easy-to-use tool so you can call your MP directly.You can help deliver the message that Canadians want postal banking on the table.

 

The finance committee’s hearings on the banks start in June. This is the perfect time to call and tell your MP and the Trudeau government: Canadians want an accessible alternative to the big banks, and postal banking can deliver!

 

Like we said, we’ve made it easy. Just click here to connect!