The Post Office Savings Bank & National Savings
The Post Office Savings Bank and National Savings
Prior to 1969, the Post Office had responsibility for Savings Accounts, Savings Certificates and Premium Bonds (ERNIE). On 1st October 1969, when the Post Office became a Corporation, the Savings Bank functions remained as part of the Exchequer and became National Savings.
 | EXIT | Introduction | Post Office Savings Bank | Premium Bonds (ERNIE) | Savings Certificates | Links |
Introduction

Prior to 1969, the Post Office had responsibility for Savings Accounts, Savings Certificates and Premium Bonds (ERNIE). On 1st October 1969, when the Post Office became a Corporation, the Savings Bank functions remained as part of the Exchequer and became National Savings.

A Government Department

The General Post Office (GPO), a Government Department headed by a Government Minister (the Postmaster General), had a monopoly in UK telecoms and postal services. On 1st October, The Post Office Act 1969 established the GPO as a statutory corporation headed by a Chairman appointed by the Government. 

The Post Office Savings Bank

The Post Office Savings Bank
In 1861 the Palmerston Government set up the "Post Office Savings Bank" - a simple savings scheme aiming to encourage ordinary wage earners "to provide for themselves against adversity and ill health".

Tall oaks from little acorns grow. Join the Post Office Savings Bank....


The Story of Premium Savings Bonds and...
ERNIE - Electronic Random Number Indicator Equipment

Premium Savings Bond - 'A' Series.
ERNIE was devised to select prize winners of Premium Savings Bonds.
  • Premium Bonds were officially launched on 1st November 1956 by Harold MacMillan, Chancellor of the Exchequer.
  • The first draw took place on 2nd June 1957.

Series 'A' Premium Savings Bond

Savings Certificates

Saving Cerificates more later...

Links

If you have a query about money held in National Savings, please visit the National Savings & Investments site.
Light Straw supports the British Postal Museum & Archive...
The BPMA (British Postal Museum & Archive) is the place to study the GPO (General Post Office) of bygone days... Buy GPO branded products, DVDs, postcards and more from the official supplier, the British Postal Museum & Archive.
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