Cathy Peattie Calls for Creation of PostBank

PICT8251Speaking at a meeting in the Scottish Parliament, Falkirk East MSP Cathy Peattie gave her support to the Post Bank Coalition, which is campaigning for the creation of a new ‘Post Bank’ system.

The PostBank could provide personal and business bank accounts serviced by the Post Office network.

 “This is a unique opportunity to answer concerns around secure finance for people and the future of the post office network,” said Cathy.

“The Post office already provides many vital services. The creation of a Post Bank would enhance the Post Office network and benefit our local communities. People who have been unable to access commercial banks will be able to get a bank account and stay in control of their finances; the trusted and valued Post Office network will be revitalised with a new role for 21st century Scotland, and a Post Bank will also create jobs in urban and rural communities across Scotland.”

 Cathy and her colleague Hugh Henry MSP have tabled motions in support of the PostBank. After speaking at the meeting to launch the campaign in Scotland, they issued a joint statement:

 “Based upon the Post Office network, local Post Banks could provide financial services such as a bank account to the three million people who are still not using banks, including the most disadvantaged people, pensioners, and people who live in very remote rural areas. There are also many small businesses that are looking for alternative sources of finance – two out of five would consider banking with a post bank. We believe that Post Banks will renew and support the Post Office, help people who are currently excluded by high street banks, and provide a significant boost for the local economies they serve.”

 The Scottish Regional Secretary of the Communication Workers Union (CWU) John Brown added: “I was very pleased to see so many MSPs supporting this launch event along with other supporters for what is an exciting and innovative move towards the creation of a Post Bank. We now look forward to further support for the campaign to ensure that the Post Bank is set up in the near future and will be universally available to all, serviced through the trusted Post Office network. This is definitely an ‘idea whose time has come.”

Grahame Smith, Scottish Trades Union Congress (STUC) General Secretary said: “The STUC welcomes the growing support for a Post Bank. This initiative demonstrates that we can work together to find solutions that not only meet the needs of people in this harsh economic climate, but also contribute to reshaping the way in which our economy should be run and regulated.”

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