One of the first things that the new Dominion of Canada did as a country, way back in April 1868, was create a postal bank. The idea was to create a banking system that everyday Canadians could access easily – and to serve customers that the established banks at the time showed little interest in serving. Postal banking existed in Canada until 1968.
All of the stakeholders of the postal system (Canada Post; Canadian Union of Postal Workers (CUPW) and the Canadian Postmasters and Assistants Association (CPAA) have examined the idea of re-establishing a postal bank. The CUPW and CPAA research relies heavily on the research of consultant John Anderson. His 82-page Why Canada Needs Postal Banking published by the Canadian Centre for Policy Alternatives contains some of the most detailed research on the topic.
Make no mistake: this is research funded by CUPW. And let’s face it: CUPW are a bit of a polarizing entity at the moment. So it’s perhaps not the most strategic time to be advocating for an increased role and more responsibilities for Canada Post — and its workers — in our life. The most recent strike no doubt rankled many of us, especially those of us waiting for Christmas gifts ordered online. And we are about to get another postage increase. On Jan. 14, 2019 a stamp bought in bulk will cost 90 cents. An individual stamp will cost us $1.05. That we can — in a time of $7 coffees — mail a letter from anywhere in Canada to anywhere in Canada for a measly $1.05 will be lost on those who use any excuse to bash Canada Post. I mean $1.05! That’s a whole nickel more than a non-existent buck-a-beer! But I digress.