Credit unions serving postal employees have persuaded the U.S. Postal Service to continue its policy of giving them rent-free facilities.
Late last year the Postal Service said it would charge credit unions rent for space in post office buildings. Earlier this month, after meeting with representatives of the National Council of Postal Credit Unions, the agency reversed itself, according to Postal Service and industry officials.
There are 387 postal employee credit unions, ranging in asset size from $500,000 to $774 million-asset Atlanta Postal Credit Union. The postal credit unions have combined assets of $6.7 billion and 1.6 million customers.
Some smaller credit unions said paying rent would cause financial strain, said Robert Spindler, executive director of the postal council. Others said that if they had to pay for space, they would move their operations outside the building, he added.
The council surveyed its members and found that many of the credit unions occupied offices that weren't prime commercial space, said Richard Giesing, president of both the trade group and $86 million-asset St. Louis Postal Credit Union.
"Some of them were behind a chain-link fence or a loading dock," he said.
Mr. Giesing added that some larger credit unions paid some form of rent for on-site offices.
Bob Hoobing, a spokesman for the agency, said Postal Service employees view credit union membership as a benefit. It wanted to keep the offices on site as a convenience to employees, he said.
