Over the last two decades, 1700 of Canada's rural towns, villages and some Indigenous communities, have lost access to financial services due to bank closures;
Nearly 2 million Canadians desperately need an alternative to payday lenders with their crippling lending rates, hitting poor, marginalized, rural and Indigenous communities the hardest;
Access to financial services is critical in keeping small communities alive and vibrant, especially with the trend to assist senior citizens, for example, to remain in their own homes as long as possible;
Many Canadians do not own a vehicle or drive (especially in winter) to another town to access financial services or own a computer in order to seek access to financial services to do their financial transactions online;
3,800 Canada Post outlets (60%) are in rural areas where there are fewer banks and credit unions and, as Canada Post already has the infrastructure to make a rapid transition to include postal banking, it would prove to be as viable alternative;
Many global postal systems include access to banking - the United Kingdom, France, Italy, Switzerland, and New Zealand – all publicly-owned and earn significant revenue without charging prohibitive fees and making the banking sector more competitive; and
It's time we had a public banking system that works for all Canadians.
We, the undersigned, citizens and residents of Canada, call upon the Government of Canada to instruct Canada Post to make a rapid transition to include postal banking in its mandate.
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