Step In Right Direction On Post Office Banking Says CWU

The Communication Workers Union today (Monday) welcomes moves by the government to improve financial services at the Post Office but says more can be done.

Responding to the consultation - Developing the banking and financial services available at the Post Office - the postal union emphasises the importance of new money and innovation in delivering financial services through the Post Office but is disappointed that the private model of banking has not been addressed.

Billy Hayes, CWU general secretary, said: "This is a Government decision that is in step with the direction of the British people. We want to cheer on the supporters for change and quicken the pace of this crucial programme for the Post Office.

“New money for the Post Office is always welcome and the network can breathe a little easier now that the government has confirmed funding to underpin the network until at least 2012.

“The decisions to expand post office banking services announced today go further than ever before. We welcome the recognition of the potential for the Post Office to provide trusted services to both the financially excluded and small businesses and to offer access to credit unions and other banks.

“We still believe that Post Office banking should be more than just a branding exercise. The public want a different, publicly-owned, model of bank at the Post Office which they can trust to serve their needs. Establishing a Post Bank would do much more in terms of creating jobs, safeguarding the network and creating a real choice in the financial services market.

“Today’s announcement is good news for all who care about the Post Office. It’s also a confident step towards tackling financial exclusion and addressing access to finance for all through the Post Office.”

CWU represents workers in the Post Office and Royal Mail Group and is part of the Post Bank Coalition.

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