thrift


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Related to thrift: Thrift Bank

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.

thrift

A financial institution that derives its funds primarily from consumer savings accounts. The term originally referred to those institutions offering mainly passbook savings accounts. But the industry evolved through financial deregulation to the point where these accounts often provide only a small source of funds for many thrifts. The term often refers to savings and loan associations, but can also mean credit unions and mutual savings banks.
References in periodicals archive ?
Through our support of local charities," said Wirth, "Impact Thrift is able to assist thousands in need.
The BSP likewise intends to allow thrift banks to engage in cross-selling of investment products created by other financial institutions.
Even with low prices, the Grafton Thrift Shop was able to make annual contributions of around $14,000 over the past year or so to support charitable programs of the church and community, up from its previous level of $12,000.
Only by opening a new Internet browser and typing the Thrift Savings Plan's Web site into the address field can a participant be sure of accessing the authentic thrift plan Web site.
The proposed statement was issued by the Securities and Exchange Commission, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, and the Office of Thrift Supervision.
Finally, thrift makes it possible to enjoy life on a low income--and made it possible for me to leave my full-time job to be a stay-at-home mama--my main motivation and most important benefit.
At that time Thrift was a 640-store chain that had just completed its most successful year, with sales approaching the $2 billion mark.
We find that total advances to thrift institutions rose sharply over the 1980s, reached a peak in 1988, and declined in the latter part of the 1980s and early 1990s.
For municipal leaders, how Congress chooses to deal with the thrift industry problem could have impacts on housing and banking costs at the local level.
Parsons' swift and decisive action also put the Dime in a position to merge with Anchor Savings Bank, another formerly troubled thrift.
Although innumerable variables affected the severity of losses suffered by the thrift industry, there were four major legislative and regulatory policy objectives: