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 ?
The letters--even in their very discursiveness--show a thriftiness of narrative and language, a playful finding, altering, trimming, and piecing, a transformation of matter that connects writer and reader, present, past, and future.
is the measure of the social usefulness of work, the regulator of thriftiness, the incentive for building up efficiency and for scientific-technical progress.
De Vries does an excellent job of teasing out the values underlying the Dutch idea of acting normally: to be normal is to prize intimacy and coziness (gezelligheid), to practice thriftiness (zuinigheid), to avoid heroics, to be stoic, and to work cooperatively.
The city's thriftiness was highlighted by the latest survey by Birmingham Midshires, the savings and mortgage subsidiary of the Halifax, as part of a continuing campaign to promote the savings habit.
Dangling the prize money before her, the quizmaster rehashed his jokes about New England thriftiness.
Had their share of business activity been greater, their increase in thriftiness and prudence might have deepened or prolonged the recession.
Shea asks whether childhood deprivation raises adult thriftiness.
Such variables as congested freeway traffic, managed care's thriftiness, increased demands on primary-care doctors and worries over fragmented hospital care have led to their swelling numbers since 1993.
Better to go bankrupt investing all your money in tulips than grow rich in the insane thriftiness that drives her landlady to cut down a perfectly healthy forty-foot Norway maple, a case in which the desire for oblivion was greater than Merrin's powers of vigilance.
But in broad outline, the thrifty phenotype hypothesis holds that in periods of nutritional deprivation, the fetus adopts two strategies to ensure survival: It preferentially shunts blood to the brain from key bodily organs; and during a critical window of intrauterine development it engages in programming of organ structure and function so as to maintain long-term metabolic thriftiness later in life under conditions of poor postnatal nutrition.