The buzz surrounding the United States Postal Service is focused on the recent proposed price changes filed with the Postal Regulatory Commission, just one of the many steps being taken to tackle the crisis situation surrounding the USPS. Traditionally, the Postal Service is limited to rate increases of no more than the rate of inflation, which as of May stood at 0.9%. The recently proposed rate increase filed by the USPS was at 5.6%, which further reflects the severity of its economic condition.

Based on the findings of three well-respected outside consulting firms, it has been determined that if no action is taken the USPS will face a cumulative shortfall of $238 billion by 2020. Additionally, the most recent statement provided by the USPS reported a net loss of $2.9 billion for the first eight months of its fiscal year. It was also released that the volume of mail delivered has plummeted from 213 billion pieces in 2007 to 177 billion pieces in 2009.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?


NOT FOR REPRINT

© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Peter Westerman

 

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2023 ALM Global, LLC. All Rights Reserved.