savings bank

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Savings bank

An institution that primarily accepts consumer savings deposits and to make home 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.

savings bank

savings bank

a BANK which offers clients a variety of savings accounts to attract deposits, mainly from the general public, and which specializes in investments in financial securities such as STOCKS and SHARES and government BONDS. In recent times, however, some savings banks, such as the Trustee Savings Bank, have become JOINT-STOCK COMPANIES and operate more like the COMMERCIAL BANKS, offering their clients money transmission services (cheque books and credit cards), bank loans and mortgages, and other financial services.

savings bank

a financial institution that accepts deposits from savers and that specializes in investments in stocks and shares and government securities. Some of the larger savings banks now offer depositors COMMERCIAL BANK facilities (for example, the use of a cheque book). See also FINANCIAL SYSTEM.

savings bank

Originally organized under individual state supervision as a vehicle for cash workers to deposit their earnings. The industry remained small until the mid-1980s, when savings banks became a federally chartered alternative to the savings and loan associations,whose insurance fund was bankrupt.Savings banks could be protected under the Bank Insurance Fund of the FDIC.

References in periodicals archive ?
CONTACT: Kathy Wedeking of Western League of Savings Institutions, 310-414-8300/
Commercial banks also were the dominant source for savings services, far outpacing brokerage firms and savings institutions.
Census Categories NAICS 52212 - Savings Institutions is almost comparable to: 100% of SIC 6035 - Savings Institutions
The leading approach requires banks and savings institutions to supply funds to SAIF and/or assume responsibility for SAIF's ongoing debt payments, according to Walter.
About two-fifths of households use savings institutions, and about one-fourth use credit unions.
CONTACT: Kathy Wedeking of the Western League of Savings Institutions, 310-414-8300/
According to first-quarter results, 94% of all savings institutions were profitable, capital ratios were on the rise and, for the first time since the advent of regulatory reporting on thrifts in 1990, problem assets fell below 2% of total assets.
For example, the median incomes of traditional home equity loan borrowers at commercial banks and savings institutions were $55,000 and $40,000 respectively in 1988.
has become the 15th largest publicly traded savings institution in the United States in terms of assets, according to the Fortune 500 service industry rankings.
As a legislative response to concerns about audit committee expertise, FDICIA requires the audit committees of very large banks and savings institutions to include at least two members with banking or financial management expertise.
The company serves more than 17,000 clients worldwide, including banks, credit unions, financial planners and investment advisers, insurance companies and agents, self-funded employers, lenders and savings institutions.

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