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 ?
is the savings and loan holding company for Iroquois Federal Savings and Loan Association. Headquartered in Watseka, Illinois, the Association operates from seven full-service banking offices located in Watseka, Danville, Clifton, Hoopeston, Savoy, Bourbonnais, and Champaign, Illinois and a loan production and wealth management office in Osage Beach, Missouri
and intends to use the building, former headquarters of the defunct Community Federal Savings and Loan Association, as its corporate headquarters.
Gouverneur Savings and Loan Association is a New York State chartered savings and loan association offering a variety of banking products and services to individuals and businesses in its market area of St.
Cincinnati Bancorp (OTCPink: CNNB), the holding company for Cincinnati Federal and the majority-owned subsidiary of CF Mutual Holding company, has announced the signing of a definitive merger agreement with Kentucky Federal Savings and Loan Association (KF), a mutual savings association, the company said.
M2 EQUITYBITES-May 1, 2018-Cincinnati Bancorp inks deal with Kentucky Federal Savings and Loan Association
With assets of USD13.9bn as of December 31, 2017, Third Federal Savings and Loan Association is a provider of savings and mortgage products that operates in 21 states and the District of Columbia.
TFS Financial Corporation (NASDAQ: TFSL), the holding company for Third Federal Savings and Loan Association of Cleveland, has announced that the board of directors declared a quarterly cash dividend of USD 0.17 per share, payable on March 19, 2018 to stockholders of record on March 5, 2018v.
(OTC: GOVB), parent company of Gouverneur Savings and Loan Association, has said its board of directors has declared a semi-annual dividend of USD0.17 per share on its common stock.
(NASDAQ Capital: IROQ), the holding company for Iroquois Federal Savings and Loan Association, has announced that its board of directors declared a cash dividend of USD 0.10 per common share, the company said.
Third Federal Savings and Loan Association of Cleveland, MHC, the mutual holding company of the company and owner of 227,119,132 shares, or 81 percent of the company's common stock outstanding, has waived its right to receive the dividend on its shares.
Third Federal Savings and Loan Association is a provider of savings and mortgage products, and operates under the values of love, trust, respect, a commitment to excellence and fun.
Third Federal Savings and Loan Association of Cleveland, MHC, the company's mutual holding company that owns 227,119,132 shares, or 81.0 percent of the company's common stock outstanding, has waived its right to receive the dividend on its shares.
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