The Kiwibank & Japanese Model: Postal Banks to Serve Local Communities
Banking in post offices is not new. Many countries, including Germany, France, Italy, Japan, and New Zealand, have a long and successful history of it; and so does the United States. If the USPS added banking, it could use its own bank-generated credit to help relieve its debt problems. According to German researcher Margrit Kennedy, interest composes on average about 40% of the cost of all goods and services. That suggests that eliminating interest could reduce the USPS debt by about 40%.