The group of the PSD banks consists of 15 legally in each case independent and independent credit institutes in Germany. The contraction PSD stands for post office saving and Darlehnsverein. Each PSD bank is responsible for a fixed line of business (regional principle) and assumes excluding customers with domicile in this area. All PSD banks is active in the legal form of the registered cooperative (EEC). The PSD banks is pure private customer banks. Accounts for independent ones and legal entities (companies) are not led. Except for an exception today all 15 PSD banks operate the universal banking transaction (therefore the PSD bank Hanover EEC leads no current accounts and gives change also no payment maps like e.g. Maestro or credit cards).
The idea for establishment developed 1872. The imperial general post office energized at that time the establishment of saving and loan associations for post office officials. Gradually altogether 21 post office saving and Darlehnsvereine in completely Germany were created. As already follows from the name, it acted here except for an exception (post office saving and Darlehnsgenossenschaft Saarbruecken) around credit institutes in the legal form of the economic association with legal capacity by national award. To approximately to the year 1998 all post office saving and Darlehnsvereine were not Universalbanken, i.e. not all bank services were offered. Also up to then only officials and employees of the former Federal Post Office could become customer and member of the banks.
In the course of the years gradually all of the 21 post office saving and Darlehnsvereine opened 1998/1999 also for non--post office officials and/or non--post office employees. Up to the post office saving and Darlehnsverein Hanover all associations also the universal banking transaction (guidance of current accounts, securities trading, etc.) introduced in this course. Because of that legally much "the individual post office saving and Darlehnsvereine gradually also their legal form changed pedantic" legal form of the association. Thus the associations were converted gradually into registered cooperatives (EEC). Since now both the designation "post office" did not apply, and the ending "association" in the name of the banks any longer, the former post office saving and Darlehnsvereine already accepted that since longer contractions "PSD" usual in the linguistic usage and called themselves from now on only "PSD bank".
In the following years 2000 until today several PSD banks united, so that today still 15 exists to that originally 21 banks.
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