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.

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 ?
For its part, CSB is the fifth largest thrift bank in the country in terms of assets, with P74.
69% of the total outstanding capital stock of the thrift bank.
PBB, the fifth-biggest thrift bank in the Philippines with estimated assets of more than P80 billion, believes that the SME segment is the major source of entrepreneurship and economic dynamism.
05 billion, while City Savings Bank is the 6th largest thrift bank in terms of assets with P71.
Baoy said that Enterprise Bank is the first thrift bank accredited by the SSS in 2016 as a participating financial institution (PFI).
05 billion while CitySavings Bank is the sixth largest thrift bank in terms of assets with P71.
which currently owns Postbank, and the Bureau of the Treasury were ordered to transfer their shares in the thrift bank Landbank at zero value.
The Manulife China Bank Life Assurance Corporation (MCBL) further strengthened its alliance with China Banking Corporation (China Bank) following the Bangko Sentral ng Pilipinas' grant of the license to cross-sell bancassurance products to China Bank Savings (CBS), the thrift bank arm of China Bank.
His years of business experience as a chief financial officer, thrift bank executive and corporate banker give him a unique perspective on the opportunities that lie ahead.
which owns Postbank, and the Bureau of Treasury were ordered to transfer their shares of the thrift bank to Landbank at zero value.
CitySavings), Aboitiz-led Union Bank's thrift banking arm, has struck a deal to acquire Philippine Resources Savings Bank (PR Savings), a 102-branch thrift bank based in Isabela.
has partnered with the thrift bank unit of Bank of the Philippine Islands (BPI) for the take out of its receivables amounting to P1 billion.