Home > West's Encyclopedia of American Law > Depository

The place where a deposit is placed and kept, e.g., a bank, savings and loan institution, credit union, or trust company. A place where something is deposited or stored as for safekeeping or convenience, e.g., a safety deposit box.

This term should not be confused with depositary, which is the person or institution taking responsibility for the deposit, rather than the place itself.

U. S. depositories are banks selected and designated to receive deposits of the public funds (e.g., taxes) of the United States.