Like most sensible people, the Canadian Union of Postal Workers (CUPW) sees a 1.8% profit margin on revenues at Canada Post as great news: modestly better than break-even, with some extra cash to reinvest in the service – isn’t that exactly how we want a crown corporation to perform? Of course, it’s on brand for the Motley Fool to throw out conventional wisdom and make an unorthodox proposal to butcher and privatize the Canada Post Group of companies. The thing is, it’s far-fetched and based on little understanding of how the postal system works, therefore no constructive ideas about improving it.
Support Postal Banking - Download and Sign the Petition
Canada needs a postal bank. Thousands of rural towns and villages in our country do not have a bank, but many of them have a post office that could provide financial services. As well, nearly two million Canadians desperately need an alternative to payday lenders. A postal bank could be that alternative. Download and sign the petition urging the Government of Canada to instruct Canada Post to add postal banking, with a mandate for financial inclusion.