One could imagine a postal bank as a feeder service that brings unbanked consumers into the mainstream financial system and then graduates them to private institutions.
Helping people understand personal finances and empowering them to make better financial decisions ensures a better future for consumers, communities and our nation.
When taken together, the posts in our What Customers Want series thus far point to opportunities for banks to innovate around the good old George Bailey banking model.
None of us is above human error, but it's worth reminding financial institutions that these interactions can impact the psychological well-being of their clients.
The two primary functions of banking should be to take deposits and to make loans; all other services should be supplementary to these two primary activities.
I would feel better about banking at a place that took an active role in educating the public on the financial system. I would also appreciate a complete breakdown on any puzzling paperwork, confusing mathematics or common mistakes when I sign up for an account.
Debit cardholders would feel more appreciated if their bank voluntarily notified them prior to overdrafts and offered to mail statements in languages other than English.
More than anything I would like good customer service, close attention to my account security and really low fees. Unfortunately, I must admit I almost never get what I want from my bank.
