savings bank


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Savings bank

An institution that primarily accepts consumer savings deposits and to make home 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.

savings bank

savings bank

a BANK which offers clients a variety of savings accounts to attract deposits, mainly from the general public, and which specializes in investments in financial securities such as STOCKS and SHARES and government BONDS. In recent times, however, some savings banks, such as the Trustee Savings Bank, have become JOINT-STOCK COMPANIES and operate more like the COMMERCIAL BANKS, offering their clients money transmission services (cheque books and credit cards), bank loans and mortgages, and other financial services.

savings bank

a financial institution that accepts deposits from savers and that specializes in investments in stocks and shares and government securities. Some of the larger savings banks now offer depositors COMMERCIAL BANK facilities (for example, the use of a cheque book). See also FINANCIAL SYSTEM.

savings bank

Originally organized under individual state supervision as a vehicle for cash workers to deposit their earnings. The industry remained small until the mid-1980s, when savings banks became a federally chartered alternative to the savings and loan associations,whose insurance fund was bankrupt.Savings banks could be protected under the Bank Insurance Fund of the FDIC.

References in periodicals archive ?
Millbury Savings Bank was founded in 1854 and is a state-chartered mutual savings bank headquartered in Millbury, Massachusetts, with USD 228m in assets and branches in Millbury and Worcester.
The full integration will result in improved synergies among branch networks with a domestic footprint of 707 branches including 644 PNB branches and 63 from PNB Savings Bank. Likewise, the Yuchengco family is also consolidating its banking business through the merger of Rizal Commercial Banking Corp.
As of March 31, 2018, Eaton Federal Savings Bank reported USD 292m in assets while SSBBank reported USD66 m in assets.
The Financial Supervisory Service (FSS) said it will disclose detailed information about the nation's savings banks that have profited from high-interest loans to such people by the end of the month.
Jeff Quan received the $1,000 Millbury Savings Bank Scholarship in memory of Marjorie Matson, who was a longtime bank employee.
Wilbur, president and CEO of Merrimack County Savings Bank for 20 years before retiring in 2010, Wilbur has worked in the banking industry since 1974, beginning his career as assistant director of education for the National Association of Mutual Savings Banks.
Finnish savings bank Aktia Savings Bank Plc said on Thursday (7 June) that it will raise its prime rate by 0.25 percentage points to 4.25%.
Cooper Square Realty has been chosen to manage One Hanson Place, formerly known as the Williamsburg Savings Bank.
Wright, president and chief executive officer, USAA Federal Savings Bank. The new vice president is Karen L.
And it also cites some examples of practical co-operation to date, including: - a scheme by the German savings bank association to make available a network of experts for its members evaluating high technology for loan applications purposes (German savings banks play a part in 40% of business start-ups in Germany); - the Spanish association's network of branches focusing specifically on smaller firms and their needs; - the Swedish association's training scheme to equip staff to work effectively with smaller firms; - cross-border co-operation between French and German savings banks on mutual support of smaller firms involved in cross-border business.
Under new and younger leadership, Carver Federal Savings Bank digs in its heels for the long term by opening a mortgage and small business lending center

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