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 ?
they are apathetic, thriftless, and almost non-industrial, and that they especially require the exercise of strengthening influences on their moral fibre (p.
How these men come to be so disordered is a question that goes beyond the scope of the York study although its authors offered a sympathetic perspective: 'Indeed, we often wonder if those of us who are apt to stand apart and judge thriftless drunkards with but little sympathy would, under similar conditions, have done better than they
Then I always remember the words a man named Charles Dudley Warner wrote back in 1887, maybe sitting in the,, same ancient bar: I suppose we are afl wrongly made up and have a fallen nature; else why is it that the most thrifty and neat and orderly city only wins our approval, and perhaps gratifies us intellectually, and such a thriftless, battered and, stained, and lazy old place as the French quarter of New Orleans takes our hearts?
Thomas Conant voiced all-too-common prejudices in his Upper Canada Sketches, asking bluntly "whether the hard-working and the thrifty ought to be taxed to provide for the lazy and the thriftless.
is a happy, thriftless, excitable person, lacking in self control and foresight, naturally courageous, and naturally courteous and polite, full of personal vanity, with little sense of veracity .
The men are thriftless, proud, extravagant, and very much given to gaming.
He says the Irish are "apathetic, thriftless and non-industrial".
71) Hence, instead of attracting "independent and self-reliant" workers and settlers looking for a prosperous and democratic home, Macdonald's system was filling the country with "cheap labour," as well as "the most shiftless and thriftless of the mother country, who have nearly always been a burden upon the rates of the mother land, and in nine cases out often will be the same here.
Whose thriftless State, this Looking-Glass is meant, By way of metaphor, to represent: Wherein the Planter may his Fate behold, By sad Experience, has often been told, It's Industry, and not a nauseous Weed, Must cloth the Naked, and the Hungry feed.