Why Banking during the postoffice could possibly be a Better Option Than Payday Loans вЂ” and Wall Street
Nyc postoffice. Picture by John Donges.
The U.S. postoffice on Martin Luther King, Jr. Blvd. is a bastion on its Harlem block. Entrenched beside a pawnshop, a cash-for-gold company, and a commercial bank numerous within the community aren't able to utilize, the center is actually a fortress. Detailed with hefty stone walls, metal displays, vaults, ATMs, and armored vehicles, the premises evoke one word: safety. In the event that youвЂ™ve followed present news, additionally they recommend an extra term: Bank.
Post workplaces are designed like banks.
And thatвЂ™s just one single reasons why banking that is postal a hot concept in economic policy debates, is viable. Real and functional structures already occur which could assist USPS provide basic monetary solutions: prepaid debit cards, mobile deals, brand brand new check cashing solutions, cost cost cost savings reports, as well as simple, small-dollar loans.