ONE of the key reasons this island still retains such a strong sense of community is that so many people have a keen affinity with Guernsey – and all things Guernsey. That shows in many different ways but, put simply, if there’s a local equivalent available, islanders generally prefer to use it.

Guernsey Post, one of the most trusted brands we have, recognised that and has produced some in-depth research that defines to what extent that desire to ‘go local’ actually applies.

Seeing the tens or possibly hundreds of millions of pounds of islanders’ savings that have been pouring through local sub-post offices and into UK government-backed savings schemes, executives wondered whether there was a better way of doing it on-island.

And if its Island Opinion survey is any indication, there is a huge appetite among islanders for investment schemes offered by their familiar post office and a desire to buy Guernsey premium bonds if they were to become available.

Interestingly, Guernsey Post appears to be ahead of similar thinking in the UK, which also looks to build on the trust and value in the postal network there and is to be commended on its forward thinking.

As a commercialised utility owned by the States, there is a wholly appropriate level of self-interest in its proposals. Winning profitable new business and increasing customers at its branch network is vital to its and the island’s business interests. And it could also prevent inevitably controversial closures in the future.

It is not clear at this stage how much work is involved in making Guernsey Post’s vision a reality or how much political support exists for it.

However, it is an idea very much of its time and an excellent opportunity for the States to put some credibility back into banking.

The potential losses faced by local Landsbanki customers show that islanders are by nature thrifty and a safe home for their savings is more important now than at any time in the past.

There is also self-interest for the States itself in these cash-strapped times.

Having islanders effectively invest in essential local capital projects and giving them a return on their money is surely a win-win for everyone.