savings and loan association

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Related to Savings associations: Savings Association Insurance Fund, Savings Banks

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 is similarly limited to regulating and supervising the state chartered savings association entity, the lawyer said.
to regulate all aspects of the operations of Federal savings associations." (34) Therefore, instead of looking to see if a state law conflicts with federal savings associations' power, the OTS will preempt any state law "affecting the operations of federal savings associations" because the OTS has asserted that it "occupies the field" of federal savings association regulation.
If a separate regulatory structure and subsidies are required to preserve the traditional role of savings associations, and if the social benefits of doing so justify the costs, then capitalizing the SAIF may be the preferred choice.
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.
The Office of the Comptroller of the Currency (OCC) has reported improvement in the conditions of community national banks and federal savings associations in the nine states that make up the OCC's Southern District.
The number of savings associations' offices also dropped, but less sharply than the number of institutions (only around 15%, from 15,461 in 1995 to 13,136 at the end of 2005).
The OTS issued a bulletin in August urging savings associations to use caution when investing in structured notes.
21 January 2014 -- Washington DC-based federal bank regulator The Office of the Comptroller of the Currency said it will host two workshops in Miami February 4-5 for directors of national community banks and federal savings associations.
Over the same period, the number of FDIC-insured savings associations fell by more than 35%, from 2,030 in 1995 to 1,314 at the end of 2005:IIIQ.
The advisory is prompted by insurers who have requested or required banks and savings associations to disclose their CAMELS rating during the underwriting process for directors and officers liability coverage.
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