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 ?
Tucumcari Federal Savings and Loan Association was founded in 1934 to provide a safe place for residents of the community to deposit their money, and to help residents own their own homes.
Oconee Federal Financial Corp is the holding company of Oconee Federal Savings and Loan Association, a federally chartered savings and loan association headquartered in Seneca, South Carolina.
Iroquois Federal Savings and Loan Association is a community-oriented financial institution that conducts its operations from its five full-service banking offices located in the municipalities of Watseka, Danville, Clifton, Hoopeston and Savoy, Illinois and its loan production and wealth management office in Osage Beach, Missouri.
TFS Financial operates as a holding company for Third Federal Savings and Loan Association of Cleveland that provides residential real estate mortgage loans and retail savings deposits.
Third Federal Savings and Loan Association of Cleveland, MHC, the mutual holding company of the company and owner of 227,119,132 shares, or 79 percent of the company's common stock outstanding, has waived its right to receive the dividend on its shares.
With total assets of USD12.4bn as of December 31, 2015, Third Federal Savings and Loan Association, a provider of savings and mortgage products, has 21 full service branches in Northeast Ohio, eight lending offices in Central and Southern Ohio, and 17 full service branches throughout Florida.
Third Federal Savings and Loan Association of Cleveland, MHC (the "MHC"), the mutual holding company of the Company and owner of 227,119,132 shares, or 80 percent of the Company's common stock outstanding, has waived its right to receive the dividend on its shares.
(NASDAQ Capital: IROQ), the holding company for Iroquois Federal Savings and Loan Association, has said that its board of directors has declared a cash dividend of USD0.08 per share on its common stock.
IF Bancorp Inc (NASDAQ Capital:IROQ), the holding company for Iroquois Federal Savings and Loan Association, announced on Thursday that its board of directors declared a cash dividend of USD0.08 per common share.
Kentucky First Federal Bancorp (NASDAQ: KFFB), the holding company for First Federal Savings and Loan Association of Hazard and First Federal Savings Bank of Frankfort, Kentucky, has reported a net income of USD2.1m or USD0.25 diluted earnings per share for the year ended June 30, 2015, which represents an USD135,000 or seven percent increase from the year ended June 30, 2014.
In Letter Ruling (TAM) 9933003, the IRS concluded that branching rights received in the acquisition of insolvent Federal savings and loan associations did not constitute "Federal financial assistance" under Sec.
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