Post offices could give low-income Americans access to financial services
“The study found that rural communities could benefit the most, because they have more post offices than banks (0.89 Post Offices for every 1,000 people) compared with cities (0.04 per 1,000). In fact, almost 40% of the zip codes in the U.S. don’t have a bank or a credit union — mostly in rural areas.
If a community has a bank, the study notes, people are more likely to get a mortgage, and bank closures diminish small business lending and job growth. The lack of a bank could also lead people to use payday lenders and check cashers, which can charge high interest rates and fees.”