Sberkassa
Encyclopedia
Sberkassa in the Soviet Union
and modern Russia
is a financial institution
to store the savings of the population. The term is traditionally translated as savings bank
, however sberkassas in the Soviet Union were not banks in the usual sense.
A personal document for keeping track of person's savings is a kind of a bankbook . The track of deposits, withdrawals and accrued interest
is written into the bankbook by a sberkassa clerk.
and St. Petersburg in 1842.
Stolypin reform
, among other things aimed at the improvement of the saving and credit systems of Russia.
the system of "State Labour Saving Offices" (государственная трудовая сберегательная касса) was instituted in 1922. The first was opened in February 1923, in Petrograd.
Eventually, Soviet sberkassas were outlets of the only Soviet bank, USSR State Bank, or Gosbank
until 1988 and Sberbank
(USSR Savings Bank) after the "perestroika
" of the Soviet bank system.
Additional functions included accepting various payments, e.g., for public utilities or fines, and depositing salaries.
Since the system of consumer credit
was virtually absent in the Soviet Union, in order to make a major purchase an ordinary Soviet citizen had to save for a long time. Therefore, like postal savings system
s in other countries, the system of sberkassas was a form of government debt
, a system where the Soviet state borrowed from the population. This is reflected in Soviet dictionary definitions of the term, such as:
the term went back to its original meaning. The functions are performed by the outlets of the Russian Federation Savings Bank. See also Construction Savings Bank ("строительная сберегательная касса", "строительно-сберегательная касса", ССК).
Soviet Union
The Soviet Union , officially the Union of Soviet Socialist Republics , was a constitutionally socialist state that existed in Eurasia between 1922 and 1991....
and modern Russia
Russia
Russia or , officially known as both Russia and the Russian Federation , is a country in northern Eurasia. It is a federal semi-presidential republic, comprising 83 federal subjects...
is a financial institution
Financial institution
In financial economics, a financial institution is an institution that provides financial services for its clients or members. Probably the most important financial service provided by financial institutions is acting as financial intermediaries...
to store the savings of the population. The term is traditionally translated as savings bank
Savings bank
A savings bank is a financial institution whose primary purpose is accepting savings deposits. It may also perform some other functions.In Europe, savings banks originated in the 19th or sometimes even the 18th century. Their original objective was to provide easily accessible savings products to...
, however sberkassas in the Soviet Union were not banks in the usual sense.
A personal document for keeping track of person's savings is a kind of a bankbook . The track of deposits, withdrawals and accrued interest
Interest
Interest is a fee paid by a borrower of assets to the owner as a form of compensation for the use of the assets. It is most commonly the price paid for the use of borrowed money, or money earned by deposited funds....
is written into the bankbook by a sberkassa clerk.
Imperial Russia
Credit and savings institutions (сохранная и ссудная казна) existed in Imperial Russia since the beginning of the 19th century. The first "saving banks" (sberegatelnaya kassa) were opened in MoscowMoscow
Moscow is the capital, the most populous city, and the most populous federal subject of Russia. The city is a major political, economic, cultural, scientific, religious, financial, educational, and transportation centre of Russia and the continent...
and St. Petersburg in 1842.
Stolypin reform
Stolypin reform
The Stolypin agrarian reforms were a series of changes to Imperial Russia's agricultural sector instituted during the tenure of Pyotr Stolypin, Chairman of the Council of Ministers...
, among other things aimed at the improvement of the saving and credit systems of Russia.
Soviet Union
In the Soviet UnionSoviet Union
The Soviet Union , officially the Union of Soviet Socialist Republics , was a constitutionally socialist state that existed in Eurasia between 1922 and 1991....
the system of "State Labour Saving Offices" (государственная трудовая сберегательная касса) was instituted in 1922. The first was opened in February 1923, in Petrograd.
Eventually, Soviet sberkassas were outlets of the only Soviet bank, USSR State Bank, or Gosbank
Gosbank
Gosbank was the central bank of the Soviet Union and the only bank whatsoever in the entire Union from the 1930s until the year 1987. Gosbank was one of the three Soviet economic authorities, the other two being "Gosplan" and "Gossnab"...
until 1988 and Sberbank
Sberbank
Sberbank Rossii is the largest bank in Russia and Eastern Europe. The company's headquarters are in Moscow and its history goes back to Cancrin's financial reform of 1841...
(USSR Savings Bank) after the "perestroika
Perestroika
Perestroika was a political movement within the Communist Party of the Soviet Union during 1980s, widely associated with the Soviet leader Mikhail Gorbachev...
" of the Soviet bank system.
Additional functions included accepting various payments, e.g., for public utilities or fines, and depositing salaries.
Since the system of consumer credit
Credit (finance)
Credit is the trust which allows one party to provide resources to another party where that second party does not reimburse the first party immediately , but instead arranges either to repay or return those resources at a later date. The resources provided may be financial Credit is the trust...
was virtually absent in the Soviet Union, in order to make a major purchase an ordinary Soviet citizen had to save for a long time. Therefore, like postal savings system
Postal savings system
Many nations' post offices operated or continue to operate postal savings systems to provide depositors who do not have access to banks a safe, convenient method to save money and to promote saving among the poor.-Great Britain:...
s in other countries, the system of sberkassas was a form of government debt
Government debt
Government debt is money owed by a central government. In the US, "government debt" may also refer to the debt of a municipal or local government...
, a system where the Soviet state borrowed from the population. This is reflected in Soviet dictionary definitions of the term, such as:
- "A savings office is a credit establishment serving the primary purpose of the attraction of monetary savings and free cash assets of the population."
Modern Russia
After the dissolution of the Soviet UnionDissolution of the Soviet Union
The dissolution of the Soviet Union was the disintegration of the federal political structures and central government of the Union of Soviet Socialist Republics , resulting in the independence of all fifteen republics of the Soviet Union between March 11, 1990 and December 25, 1991...
the term went back to its original meaning. The functions are performed by the outlets of the Russian Federation Savings Bank. See also Construction Savings Bank ("строительная сберегательная касса", "строительно-сберегательная касса", ССК).