savings and loan association

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Related to Savings associations: Savings Association Insurance Fund, Savings Banks

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 ?
A federal judge on Friday night ordered the government to pay nearly $909 million to a California savings association that nearly went bankrupt after Congress and the Bush administration imposed tougher accounting changes on the industry a decade ago.
2) Haven's subsidiary savings association, CFS Bank, is the 35th largest depository institution in the state, controlling deposits of $2.
Such criteria is still applicable, including the assessment of additional credit enhancement, for loans originated in any jurisdiction by non-OTS-regulated entities and in Georgia by any entity which is not an OCC-regulated entity or a Georgia chartered bank or savings association.
In acting on notices to acquire a savings association, the Board also reviews the records of performance of the relevant depository institutions under the Community Reinvestment Act (12 U.
A five-star rating, for the safest savings associations (S&Ls, savings banks and co-operative banks) in the country indicates that the thrift's tangible capital exceeds 6.
The SAIFIAC was established in the 1989 FIRREA legislation to advise the Federal Deposit Insurance Corporation and to issue reports to Congress on issues affecting the Savings Association Insurance Fund.
Unlike section 3 of the BHC Act, section 4 does not apply a minimum age limitation on the ability of out-of-state bank holding companies to acquire savings associations.
They are the very best -- well capitalized, adequately reserved and conservatively run savings associations.
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.
The result in this case, we believe, is a better estimate of what is true of the entire population of banks and savings associations.
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.
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