| 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, over 400,000 U.S. Postal Savings System Certificates
and U.S. Postal Savings Bonds have gone unredeemed.
For
information on unclaimed Postal Savings System Bonds and
Postal Savings Certificates order our Special Report: US Postal Savings
System Unclaimed Funds
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