WASHINGTON (5/1/12)--Before members of the U.S. House and Senate returned to their home districts for this week's district work break, the Senate passed the 21st Century Postal Service Act of 2012 (S. 1789) by a 62 to 37 vote.
The bill would reduce postal service days from six to five and, of greater interest to credit unions since it could affect operational costs to some degree, give the U.S. Postal Service (USPS) more flexibility in how it increases its rates.
The bill would also require the postal service to consider how certain office location changes would impact small and rural communities, and to alter postal employee compensation and benefit structure in some cases.
These and other moves are bids to cut costs and increase revenues. USPS earlier this year moved forward with a one-cent increase in first-class mail rates, bringing that rate to 45 cents.