thrift

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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.

thrift

A financial institution that derives its funds primarily from consumer savings accounts. The term originally referred to those institutions offering mainly passbook savings accounts. But the industry evolved through financial deregulation to the point where these accounts often provide only a small source of funds for many thrifts. The term often refers to savings and loan associations, but can also mean credit unions and mutual savings banks.
References in periodicals archive ?
It also has great ideas for making frugal soft furnishings, information on where and how to shop thriftily and advice on the best budget buys.
He spends several pages sounding less like a policy strategist or political analyst and more like a modern Polonius, advising families how to thriftily survive the new environment of shifted risks.
Pursuing an in-depth analysis of the hallucinatory textures of mediated experience, Goldstein raided the Industry archives, at first thriftily and then less so.
com -- are paying for content, they are spending thriftily, worrying about breaking the bank on content alone.
Bennett then conducted Mademoiselle Lind down the dark subterranean passage to the press rooms, when she very wisely and thriftily gathered up her dress about her, lest it should be soiled by the ink with which she was surrounded on every side.
Three-quarter length shirts revive images of ill-fitting hand-me-downs thriftily passed from sibling to sibling.
A couple of days ago, after thriftily walking past them for several weeks, I finally cracked and splashed out on one of the giant sacks of mixed bird food on sale at Aldi in Milnsbridge.
But the Welsh pair, who live in Glamorgan, chose thriftily.
Its arms, seat back, and base appear complex because of their overlapping transparencies, yet its form is thriftily derived from a basic rectangle, cut and folded.