savings and loan association

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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 ?
I've worked hard for California savings and loans," Cranston said, whipping out a three-by-five card to write down Grogan's name.
DURING THE LAST 18 MONTHS, the number of savings and loans not in government hands has fallen 12 percent, from 2,597 to 2,283.
We began this article by noting that savings and loans were in the black in March 1991 for the first time in four years.
Indeed, it will finally add the word ``bank'' to its name - probably becoming Home Savings Bank of America - a decade after similar rechristenings at most other savings and loans.
Rinehart has led Home Savings of Americain a new savings and loans era.
Regarding the transaction, Tony Whitaker, President of First Federal Savings and Loan Association of Hazard stated, "This strategic merger and the reorganization represent truly historic events for our two institutions.
The reorganization is also subject to the approval of the members of First Federal Savings and Loan Association of Hazard.
Butler will remain President and Chief Executive Officer of Neosho Savings and Loan and a member of the Board of Directors following the merger and an advisory board, consisting of non-employee directors of NS&L Bancorp, will be established to provide advice and consultation after the merger.
is the holding company for Neosho Savings and Loan Association, F.
The bank's parent company, DeepGreen Financial, is owned by Third Federal Savings and Loan of Cleveland, MHC, which also owns Third Federal Savings and Loan, the nation's largest mutually owned savings and loan association.
Dudley's expertise is in the area of banking and finance, in which he has over 40 years of experience, having served as legal consultant to the Panama Ministry of Finance, as secretary general of a main directorate in the Office of Social Insurance, manager administrator of The Savings Bank, general manager of the Institute of Promotion of Assured Mortgages, executive director of the National Banking Commission, president of the 9th Conference on International Savings and Loans in Panama, delegate of the Republic of Panama of the 12th International Congress of Savings and Loans, vice president of the 10th Inter-American Conference on Savings and Loans, delegate and Reader of the 8th Seminar of Savings and Loans, and advisor of the 11th Conference on Savings and Loans.
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