savings and loan association

(redirected from Savings association)
Also found in: Dictionary, Thesaurus, Legal, Encyclopedia.

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 ?
The Federal Deposit Insurance Corporation is similarly limited to regulating and supervising the state chartered savings association entity, the lawyer said.
The winners who stand to profit the most from the precedent set by Friday's decision are other prominent businessmen who hold big stakes in savings associations that have filed similar claims.
In acting on notices to acquire a savings association, the Board reviews the records of performance of the relevant depository institutions under the Community Reinvestment Act (12 U.
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.
This savings association controls deposits of approximately $252.
Over the same period, the number of FDIC-insured savings associations fell nearly 40%, from 2,262 in 1993 to 1,365 at the end of 2004:IIIQ.
In more than seven hours of testimony before the Senate Whitewater committee, the regulator, Beverly Bassett Schaffer, defended her regulation of Madison Guaranty, the savings association owned by James B.
The Director expressed concern that TBC's proposal to convert Emerald to a savings association and acquire it pursuant to section 4 of the BHC Act was designed to evade Florida's interstate banking statute, which requires a Florida bank to be in existence and continuously operating for more than three years before it can be acquired by an out-of-state holding company.
The workshop is taught by experienced OCC staff and is one of the 35 offered nationwide to enhance and expand the skills of national community bank and federal savings association directors.
The Board also has considered that on consummation of the proposal, the Hopkins County banking market would continue to be served by four banks and a savings association, including City National Bank.
The workshops are taught by experienced OCC staff and are offered nationwide to enhance and expand the skills of national community bank and federal savings association directors.
1) A bank, savings association, or credit union is exempt from the requirements of this regulation for a given calendar year if on the preceding December 31:
Full browser ?