savings and loan association

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Savings and loan association

National- or state-chartered institution that accepts savings deposits and invests the bulk of the funds thus received in mortgages.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

savings and loan association (S&L)

A deposit-gathering financial institution that is primarily engaged in making loans on real estate. Although many S&Ls are owned by their depositors, some are organized as profit-making institutions with stock that is publicly traded. See also thrift.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.

savings and loan association

A financial institution that specializes in consumer deposits and residential mortgages.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
References in periodicals archive ?
The Federal Deposit Insurance Corporation was given authority over the few remaining state-chartered savings associations.
(89) The OTS Chief Counsel's Office issued an advisory opinion letter in 2004 (90) concluding that state mortgage broker licensing and registration requirements do not apply to exclusive agents of a federal savings association who help the association carry out its "deposit and lending powers" and are inconsistent with "the OTS's regulatory authority." (91) Although the OTS had never asserted authority to preempt state laws regulating exclusive agents, (92) the OTS's conclusion was based on several of the agency's own regulations and the HOLA.
In dealing with the problem, Congress faces several policy choices: taking no action, having taxpayers fund SAIF's capitalization, merging the two FDIC insurance funds, and employing various intermediate strategies.(3) While much of the policy debate on the impending BIF/SAIF premium differential has focused on important issues such as fairness, the competitive impact on thrifts, and the consequent ramifications for the SAIF, a larger issue looms: What is the public policy objective served by savings associations?(4) Only after policymakers answer this question can they weigh the options for dealing with the SAIF.
The rules increase the number of institutions that may qualify for an 18-month examination cycle by approximately 617, to nearly 5,000 banks and savings associations. In addition, the rules increase the number of U.S.
Over the same period, the number of FDIC-insured savings associations decreased more than 35%, from 2,030 in 1995 to 1,305 at the end of 2005.
The Office of the Comptroller of the Currency (OCC) said it plans to conduct a risk governance workshop and a credit risk workshop for directors of national community banks and federal savings associations.
1001 taxable exchange rules in Cottage Savings Association, 111 Sup.
James Federal Savings and Loan Association, a federally-chartered, FDIC-insured mutual savings association, is a community-oriented financial institution.
James Federal will convert from a federally-chartered mutual savings association to a federally-chartered stock savings association and issue its shares of common stock to Wells.
Finally, the effects of interstate consolidation of the banking industry are evident: All but seven states now report that more than 15% of depository institutions' branches are part of an out-of-state bank or savings association. And in over half the states, 30% or more of all branches are offices of out-of-state depository institutions.
The proposal involves a charter conversion from a savings association to a bank.
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