PSD bank

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Headquarters of PSD-Bank Braunschweig at Altstadtmarkt 11 ( " House of the Seven Towers " by Hermann Korb )

The PSD banking group (in its own spelling without a hyphen) consists of 14 legally autonomous and independent credit institutions in Germany . The business model of the PSD banks is a combination of regional direct and branch banks . All services can be carried out via the Internet, telephone, email, letter, fax or in person in a branch. The acronym PSD resulted from the former name P East S par- and D arlehnsverein . The post savings and loan associations provided financial services originally exclusively for postal workers and were the districts of the earlierAssigned to the head post offices . That is why every PSD bank is still particularly connected to its region and focuses on its activities there. All PSD banks have the legal form of a registered cooperative , i.e. they are cooperative banks . The PSD banks are purely private customer banks. Accounts for self-employed and legal persons ( companies , associations ) are not kept. With one exception, all 14 PSD banks now operate the universal banking business . The PSD banks belong to the Association of PSD Banks e. V. , based in Bonn , which, in addition to other services, acts as an auditing association for them. All banks are affiliated with the protection scheme of the Federal Association of German Volksbanks and Raiffeisenbanks.

story

The idea for the establishment emerged in 1872. On January 4, 1872, the Imperial General Post Office proposed the establishment of “savings and advance payment associations” for post office officials through a general order published in the Post Office Gazette by the postmaster general Heinrich von Stephan . The first such associations were founded in January and February 1872. There was a savings and advance payment association headed by the Chief Postal Director in each district of the Oberpostdirectories . In 1872 there were a total of 35 associations with 12,067 members and association assets of 388,170 marks (equivalent to around 2,900,000 euros today  . By 1878, the number of members was 27,000 (almost half of the staff at that time) and assets at 3,868,031 marks (today's equivalent around EUR 29,200,000).

As is clear from the name, it was this one exception (Post-savings and Darlehns cooperative Saarbrücken) credit institutions in the legal form of the Economic Association . In 1879 they were given legal capacity as corporations with a firm legal basis through state award.

In 1903, the “advance payment associations” were renamed “Post-Spar- und Kreditvereine (PSpDV)”.

As part of the reunification of Germany, the post-savings and loan associations bordering on the new federal states expanded their business areas in consultation, for example the PSpDV Frankfurt am Main (previously “responsible” for Hesse) was in charge of the Thuringian region.

Until about 1998, all Post Savings and Loan Associations were not universal banks. i.e. not all banking services were offered. Until then, only civil servants and employees of the former Deutsche Bundespost and their relatives could become customers and members of the banks. Up to this point in time, there was close cooperation with Postbank and its predecessor institutions, the postal check and postal giro offices. In this way, postal workers were able to provide their current account with the postal service with an overdraft facility that was not offered by the postal service.

In the course of 1998/99, all of the 21 Post Savings and Loan Associations gradually opened to non-postal officials and non-postal workers. With the exception of the Hanover Post Savings and Loan Association, all associations also introduced the universal banking business (management of current accounts, securities trading, etc.). Because of the legally very "cumbersome" legal form of the association, the individual post-savings and loan associations also gradually changed their legal form. The associations were gradually converted into registered cooperatives (EG). Since both the designation “Post” and the ending “Verein” no longer applied in the name of the banks, the former Post-Savings and Loan Associations adopted the abbreviation “PSD”, which had been used for a long time, and from then on only called themselves still "PSD Bank".

In the following years from 2000 onwards, several PSD banks merged. At the end of 2015, PSD Bank Niederbayern-Oberpfalz eG (formerly PSD-Bank Regensburg eG) left the Association of PSD Banks eV and thus from the PSD banking group. As a result, only 14 of the original 21 PSD banks still exist today.

The PSD banks are members of the bank card service network of the German cooperative banks.

Atruvia AG is now the data center and IT service provider for the 14 PSD banks in Germany ; previously it was the data center of the Sparda banks in Nuremberg. In August 2009, the PSD banks entered into a cooperation with the financial services provider Hypoport to optimize processes and develop joint products.

In 2015, the bank group-wide decision to introduce video legitimation was made.

The 14 PSD banks (name and seat)

Institutes of the PSD banking group

Former PSD bank

  • VR Bank Niederbayern-Oberpfalz eG, registered office in Regensburg (formerly PSD-Bank Regensburg eG, left the PSD banking group on December 31, 2015)

Web links

Commons : PSD Bank  - collection of images, videos and audio files

Footnotes

  1. ↑ Of the 14 PSD banks, PSD-Bank Hannover eG alone does not have any current accounts and consequently does not issue any payment cards such as payment cards. B. bank card or credit cards .
  2. ^ Official gazette of the German Reich Postal Administration . No. 13. Berlin March 3, 1873, p. 64 ( limited preview in Google Book Search [accessed May 10, 2021]).
  3. ↑ a b This figure was based on the template: Inflation was determined, has been rounded to a full 100,000 EUR and compares 1882 (earliest year with comparative data) with January 2022).
  4. ↑ Alfred Dove (ed.): In the new realm . Weekly for the life of the German people in the state, science and art. S. Hirzel , Leipzig 1878, p. 588 ( limited preview in Google Book Search [accessed May 10, 2021]).
  5. ↑ Bank magazine: Hypoport enters into cooperation with PSD banks  ( page no longer available , search in web archives )  Info: The link was automatically marked as defective. Please check the link according to the instructions and then remove this notice. , accessed March 20, 2011@1@ 2Template: Toter Link / www.springerprofessional.de