savings and loan association

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Related to Savings association: Savings Association Insurance Fund, Mutual Savings Association

Savings and loan association

National- or state-chartered institution that accepts savings deposits and invests the bulk of the funds thus received in mortgages.

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.

savings and loan association (S&L)

A deposit-gathering financial institution that is primarily engaged in making loans on real estate. Although many S&Ls are owned by their depositors, some are organized as profit-making institutions with stock that is publicly traded. See also thrift.

savings and loan association

A financial institution that specializes in consumer deposits and residential mortgages.

References in periodicals archive ?
But it is more significant for the legal precedent it may set for the more than 120 other similar cases filed by existing and moribund savings associations and their shareholders, as well as other industries that have also filed large claims against the government last year after regulations were changed, costing them money.
The Board has previously determined by regulation that the operation of a savings association by a bank holding company is closely related to banking for purposes of section 4(c)(8) of the BHC Act.
Market share data are based on calculations that include the deposits of thrift institutions, which include savings banks and savings associations, weighted at 50 percent.
Three days later, the then-governor's wife wrote a letter to McDougal in which she severed all ties between her law firm and Madison and returned the unused portion of a retainer the firm had received from the savings association.
In this case, however, the Board does not believe that the acquisition of Emerald as a savings association would result in a violation of law.
3) Conducting savings association activities in accordance with section 225.
These lenders--commercial banks, savings associations, and mortgage banks--have low-income portfolio shares similar to the FHA's, although their market shares are only slightly larger than those of others in the conventional mortgage system.
Statistical analysis of the survey results produced, for the entire population of banks and savings associations in the United States, estimates of the level of service availability and the level and incidence of fees at the time of each annual survey.
Nasdaq: WOFC), Springfield, Ohio, the holding company of Springfield Federal Savings Bank, Springfield, Ohio, and Mayflower Federal Savings Bank, Cincinnati, Ohio, announced today that the Office of Thrift Supervision approved the acquisition of Seven Hills Financial Corporation and its subsidiary, Seven Hills Savings Association, by Western Ohio on August 30, 1996, and the Ohio Division of Financial Institutions approved the acquisition on September 11, 1996.
Machon began his banking career in 1985 as a teller for a mutual savings association in Germantown, PA.
acquired all of the outstanding capital stock of Bell Federal Savings and Loan Association of Bellevue upon its conversion from a federally chartered mutual savings association to a federally chartered stock savings association on June 29, 1995.
is the parent corporation for Alamogordo Federal Savings and Loan Association, a federally chartered savings association headquartered in Alamogordo, N.
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