postal savings bank

American  

noun

1. any of the savings banks formerly operated by local post offices and limited to small accounts.

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Etymology

Origin of postal savings bank

First recorded in 1890–95

Example Sentences

The U.S. even had a public banking system, in the form of the U.S. postal savings bank, which was abolished in the 1960s but perhaps should be revived.

From Salon • May 18, 2010

Why are people willing to accept a lower rate of interest from a postal savings bank than from an ordinary savings bank?

From Community Civics and Rural Life by Dunn, Arthur William

An objection repeatedly urged against the establishment of a postal savings bank was that it would prove a competitor to existing banks.

From Readings in Money and Banking Selected and Adapted by Phillips, Chester Arthur

The United States should establish a postal savings bank.

From Practical Argumentation by Pattee, George K.

The postal savings bank scheme as advocated by Postmaster General Meyer should be put into operation in the United States.

From Carnegie Library of Pittsburgh Debate Index Second Edition by Carnegie Library of Pittsburgh