Federal Savings and Loan Association


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Related to Federal Savings and Loan Association: Building and Loan Associations

Federal Savings and Loan Association

An institution chartered by the federal government whose primary function is to regulate institutions that collect savings deposits and provide mortgage loans.

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.
References in periodicals archive ?
The reorganization is also subject to the approval of the members of First Federal Savings and Loan Association of Hazard.
When the documents are finalized, copies of the prospectus will be sent to First Federal Savings and Loan Association of Hazard's members and the proxy statement to Frankfort First Bancorp's stockholders.
First Federal Savings and Loan Association of Hazard is a mutual savings association operating one banking office in Hazard, Kentucky.
This news release, and other written materials and oral statements made by members of management of First Federal Savings and Loan Association of Hazard, Kentucky First Federal Bancorp, Inc.
The taxpayer had acquired three insolvent Federal savings and loan associations in supervisory mergers approved by the Federal Home Loan Bank Board (FHLBB).
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