savings and loan association

(redirected from Thrift institutions)
Also found in: Dictionary, Thesaurus, Legal, Encyclopedia.
Related to Thrift institutions: Savings institutions

Savings and loan association

National- or state-chartered institution that accepts savings deposits and invests the bulk of the funds thus received in mortgages.

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 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.

savings and loan association

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

References in periodicals archive ?
Deposit and market share data are as of June 30, 2004, adjusted to reflect subsequent mergers and acquisitions through October 29, 2004, and are based on calculations in which the deposits of thrift institutions are included at 50 percent.
The Federal Reserve Board on December 11, 2002, announced the names of seven new members of its Thrift Institutions Advisory Council (TIAC) and designated a new president and vice president of the council for 2003.
Accounting for Contingencies, says a set of circumstances exists involving uncertainty about the possible loss to thrift institutions holding these obligations.
The Arizona Bankers Association, founded in 1903, is a trade association established to serve the needs of the state's commercial banks and thrift institutions.
The Federal Reserve Board on December 14, 2002, announced the names of four new members of its Thrift Institutions Advisory Council and designated a new president and vice president of the council for 2002.
The managements of thrift institutions and their auditors must recognize and adjust to the risk inherent in their loan portfolios.
She provided the community banking perspective as a member of the Federal Reserve's Thrift Institutions Advisory Council.
Staff of the federal agencies that supervise banks, thrift institutions, and credit unions issued guidance on December 12, 2001, to help financial institutions comply with these agencies' consumer privacy regulations.
Under New York State municipal law, municipal sub-divisions are not permitted to deposit funds in thrift institutions such as The Bank of Greene County.
Market share data are as of June 30, 2000, and are based on calculations in which the deposits of thrift institutions are included at 50 percent.
Hingham Institution for Savings (Nasdaq: HIFS) announced that it has received the #1 national performance rating for a second year in SNL Financial's recent ranking of the country's smaller thrift institutions.
The Federal Reserve Board on December 22, 2000, announced the names of seven new members of its Thrift Institutions Advisory Council (TIAC) and designated a new president and vice president of the council for 2001.