InfoSight Spotlight: Treasury releases report on postal banking

The U.S. Department of the Treasury released a report on the future of the United States Postal System.  The report offered several recommendations that would alter the USPS’s business model to increase the sustainability of the system without increasing costs to taxpayers. While the report generally encourages the USPS to explore new revenue streams, it also directly […]

The U.S. Department of the Treasury released a report on the future of the United States Postal System.  The report offered several recommendations that would alter the USPS’s business model to increase the sustainability of the system without increasing costs to taxpayers.

While the report generally encourages the USPS to explore new revenue streams, it also directly states the postal service should not pursue an expansion into banking services.  Specifically, the report concludes that “Given the USPS’s narrow expertise and capital limitations, expanding into sectors where the USPS does not have a comparative advantage or where balance sheet risk might arise, such as postal banking, should not be pursued.”

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The League of Southeastern Credit Unions & Affiliates represents nearly 300 credit unions throughout Alabama, Florida, and Georgia. It has a combined total of almost $200 billion in assets and 12.4 million members. LSCU provides advocacy, compliance services, education and training, cooperative initiatives, and communications.

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