Federal Savings and Loan Association

(redirected from Thrift Bank)
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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.
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
References in periodicals archive ?
For its part, CSB is the fifth largest thrift bank in the country in terms of assets, with P74.44 billion in resources as of June 30, 2017.
PSBank is the thrift bank arm of Metropolitan Bank and Trust Co.
The Philippines is willing to cooperate with Japanese authorities in investigating the acquisition of a small Philippine thrift bank by the head of a Japanese group of companies suspected of defrauding investors, the central bank chief said Friday.
Thrift bank Philippine Savings Bank has launched a P3-billion local bond offering, marking its debut into the peso-denominated bond market.
RCBC cleared to take over thrift bank unit !-- -- Lawrence Agcaoili (The Philippine Star) - June 19, 2019 - 12:00am MANILA, Philippines The Bangko Sentral ng Pilipinas (BSP) has given Rizal Commercial Banking Corp.
There were an additional 20 opened thrift bank regular branches and another 20 by rural banks.
Rizal Microbank , the thrift bank arm of the Rizal Commercial Banking Corp., that lends largely to agri-businesses and farmers.
BSP padlocks Palawan thrift bank !-- -- Lawrence Agcaoili (The Philippine Star) - May 7, 2019 - 12:00am MANILA, Philippines The Bangko Sentral ng Pilipinas (BSP) has ordered the closure of Puerto Princesa-based The Palawan Bank (Palawan Development Bank) Inc.
About 55 percent of the thrift bank's loan portfolio is comprised of housing loans.
The bank's thrift bank, China Bank Savings (CBS), also opened six new branches.