| The Postal Savings System was
established in 1911 to provide "safe, convenient
depositories for Americans who could save and earn
interest by purchasing certificates." Individuals
were allowed a single account with a maximum balance
of $2,500. Interest was paid at the rate of 2% per
annum.
The
popularity of the program declined with a growing
U.S. economy and rising interest rates, and so
Congress voted for its termination in 1966. Upon
termination, hundreds of thousands of U.S. Postal
Savings System Certificates and U.S. Postal Savings
Bonds went unredeemed.
(Note: To determine the status of a domestic or
international US Postal Service Money Order that was
lost, destroyed, or otherwise not cashed go to: Postal Money Order Search)
For
information on unclaimed Postal Savings System Bonds
and Postal Savings Certificates order our Special
Report: US Postal Savings System Unclaimed Funds
|