Australian Citizens Party formerly Citizens Electoral Council

Create a public post office bank!

To address the growing uncertainty over the financial system, in the face of rising inflation and interest rates, the increased risk of a domestic banking crisis because of our banks exposure to the property bubble, the increasing rate of bank branch closures and threat to viability of our postal service, the Citizens Party is spearheading a campaign to establish a public post office bank.

Skip to What you can do

As part of that effort, the Citizens Party has drafted the Commonwealth Postal Savings Bank Bill, in coordination with Bob Katter MP, to establish a public postal bank similar to the way the original Commonwealth Bank started in post offices in 1912.

Importantly, the original Commonwealth Bank first proved its value as a public bank in the global financial panic of 1914, when it averted a “run” on all Australian banks by the actions of its Governor, Sir Denison Miller, who announced publicly that the Commonwealth Bank stood behind the deposits in all of the banks; consequently, the feared bank panic didn’t eventuate. (In London, which was the epicentre of the 1914 panic, the Commonwealth Bank’s London office was the only bank to remain open during the emergency.)

Like the Commonwealth Bank then, a new public post post office bank will be able to guarantee deposits and provide financial services because it is owned by the government. Put simply, governments are far, far less likely to go bankrupt than private banking corporations are, so customers of public banks can have confidence that their deposits will always be honoured and they will have access to banking services.

What you can do

This grassroots campaign is absolutely a fight we can win, not least because a postal bank is already a popular idea in Australia.

In Parliament it is supported by Katter’s Australian Party (KAP), Pauline Hanson’s One Nation (PHON), the Greens, and likely the National Party (at least most Nationals). Prominent members of both the Labor and Liberal parties also support the policy. The post office unions, including the Communications Workers Union (CWU) and its parent the Communications, Electrical, and Plumbers Union (CEPU), support a postal bank, as do the LPOs represented by the Licensed Post Office Group. See further information for more details of this support.

The goal of this campaign is to unite the existing support, and recruit more support, around the Commonwealth Postal Savings Bank Bill, to make this a front-line political issue and get the bill passed. It is up to the citizens of Australia to spread the word and build the support. This is how you can help:

1. Get this information into your community. Click on the image to Download PDF for printing or attaching to email.

Postal bank information PDF  Commonwealth Postal Savings Bank Bill 2021 and Explanatory Memorandum  27 July 2022 - How a public postal bank would work in Australia

Call 1800 636 432 if you would like to order physical copies and have them sent to you.

Some suggested places you can take one the information:

  • Local post offices
  • Local Federal and State Members of Parliament
  • Local Councils and Chambers of Commerce
  • Union representatives
  • Community leaders, clubs and organisations
  • Local businesses, especially those operating in shopping strips or immediate proximity to their local post office or in areas that have lost their local bank/s
  • Anyone who values and relies on their local post office, especially their banking services.

2. Contact Elected Representatives

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Postal Savings Bank
Australia Post
Banking / Finance
Economy / Trade
Page last updated on 02 September 2022

Campaign Updates

27 Jul 2022
Australia needs a public (i.e. government-owned) bank, like the original Commonwealth Bank, which served Australia from 1912 to 1996. Since the Commonwealth Bank was privatised, joining the “Big Four” banking oligopoly, the major banks have raked in record profits, while:
  • Postal Savings Bank
18 Jul 2022
Tell your MP this week: Australia needs a post office ‘people’s bank’ Parliament starts on 26 July, and whatever agenda the new government has planned, it will increasingly be overtaken by the cost of living crisis in the economy.
  • Postal Savings Bank
29 Jun 2022
Bank branch closures have cut off hundreds of communities, especially in regional Australia, from essential financial services. There is now a national fightback to save our communities by establishing a public banking alternative to operate through post offices.
  • Postal Savings Bank
25 May 2022
Start contacting your local councils to urge their support for a public post office bank that will guarantee local banking services and force the Big Four banks to compete.
  • Postal Savings Bank
27 Apr 2022
LPO Group’s election call for a post office bank is a solution to the mass-closure of regional bank branches. How will the major parties, especially Barnaby Joyce and the Nationals, respond?
  • Postal Savings Bank
15 Feb 2022
Join the grassroots campaign to recruit all parties to support the Commonwealth Postal Savings Bank Bill.
  • Postal Savings Bank
7 Feb 2022
A postal people’s bank is clearly both in Australia’s national interest, and is the long-term solution for Australia Post.
  • Postal Savings Bank
  • Banking / Finance
9 Dec 2021
A few months out from an election presents a unique opportunity to force real solutions on to the political agenda. In contrast to the divisive policies that the major parties fight over on behalf of their respective vested interests, there are policy solutions that all Australians can recognise would benefit everybody.
  • Postal Savings Bank
  • Australia Post
24 Nov 2021
  By 18 December, flood the government’s Regional Banking Taskforce with submissions calling for a postal bank.
  • Postal Savings Bank
  • Australia Post
  • Banking / Finance
13 Jul 2021
All Australians must watch the Citizens Party’s latest Citizens Insight YouTube interview, with Licensed Post Office Group Executive Director Angela Cramp, called “The untold story of the Australia Post scandal”.
  • Australia Post