Federal Savings and Loan Association


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Related to Federal Savings and Loan Association: Building and Loan Associations

Federal Savings and Loan Association

An institution chartered by the federal government whose primary function is to regulate institutions that collect savings deposits and provide mortgage loans.

Federal Savings and Loan Association

A federally chartered bank that specializes in taking deposits for checking and savings accounts, as well as making home mortgages. Savings and loan associations tend to be smaller than other banks and are more focused on the local communities in which they operate. It is sometimes (but not always) easier to obtain a loan from a savings and loan association because it may have better knowledge of the local market. They derive most of their funds from customer savings accounts, but they also generally have easy access to loans from the Federal Home Mortgage Banks. They are also known as thrifts. They are regulated by the Office of Thrift Supervision.
References in periodicals archive ?
Regarding the transaction, Tony Whitaker, President of First Federal Savings and Loan Association of Hazard stated, "This strategic merger and the reorganization represent truly historic events for our two institutions.
The reorganization is also subject to the approval of the members of First Federal Savings and Loan Association of Hazard.
First Federal Savings and Loan Association of Westchester is headquartered in Westchester, and operates through its main office and a limited service office located in Westchester.
Jefferson Bancshares will exchange approximately 1,389,000 shares with minority shareholders of Jefferson Federal Savings and Loan Association, representing an exchange ratio of 4.
In connection with the closing of the conversion, Jefferson Federal Savings and Loan Association also changed its name to "Jefferson Federal Bank.
As of June 30, 1992, Birmingham Federal Savings and Loan Association reported assets of $91.
Brevard Federal Savings and Loan Association ST: North Carolina IN: FIN SU: TNM
The taxpayer had acquired three insolvent Federal savings and loan associations in supervisory mergers approved by the Federal Home Loan Bank Board (FHLBB).
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