postal savings system

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July 1, 2026

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The postal savings system was a savings bank operated by the government through local post offices. In the United States, this system was inaugurated in 1911 and reached its peak with over four million accounts in 1947. However, due to a decline in depositors to fewer than one million, the service was discontinued in 1966. The United States Postal Service, established in 1971, is responsible for processing and delivering mail and operates the largest postal system globally.123

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Fremont Lawson
His advocacy of a U.S. postal savings bank caused him to be called the father of the law that established it (1910). Lawson was also a leading benefactor of the Congregational church and the Young Men’s Christian Association.
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His advocacy of a U.S. postal savings bank caused him to be called the father of the law that established it (1910). Lawson was also a leading benefactor of the Congregational church and the Young Men’s Christian Association.
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postal system
United States
In 1911 a postal savings system was inaugurated, reaching a peak of more than 4,000,000 accounts in 1947. A decline to less than 1,000,000 depositors caused the service to be discontinued in 1966. Mail was formally divided into three classes in 1863, and a fourth was added in…
Read More
In 1911 a postal savings system was inaugurated, reaching a peak of more than 4,000,000 accounts in 1947. A decline to less than 1,000,000 depositors caused the service to be discontinued in 1966. Mail was formally divided into three classes in 1863, and a fourth was added in…
Read More