thrift

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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 ?
Its arms, seat back, and base appear complex because of their overlapping transparencies, yet its form is thriftily derived from a basic rectangle, cut and folded.
French filmmaker Karim Dridi succumbs to the contagious rhythms of Latin America's most musical isle in "Cuba Feliz." Thriftily made with a skeletal crew and a simple concept, the film is billed as a musical road movie, which implies a more narrative-driven enterprise than this one.
A couple of days ago, after thriftily walking past them for several weeks, I finally cracked and splashed out on one of the giant sacks of mixed bird food on sale at Aldi in Milnsbridge.
But the Welsh pair, who live in Glamorgan, chose thriftily. Angelina Jolie and Brad Pitt have a pounds 70million mega-yacht, while Chelsea boss Roman Abramovich has four.
Just as, in France, Gavarini had worked with the found limits of each specific town square (the weather, a businessman strolling through the acrobats, the sound of a siren), she thriftily harbored her new limits, in the United States, to advantage.
Two scholars at the University of Koln, Michael Gronewald and Robert Daniel, had deciphered part of a papyrus roll, dating from the third century BC, which had been thriftily recycled, soaked with water, and used to wrap a mummy.
He praised some productions, however, and all were thriftily added to the Book Lovers' Library, which Elsie Belle Champion conducted at 239 Collins Street.
Images were sometimes assigned to more than one category or were reclassified, while Atget sometimes thriftily reused albums, relabeling them and inserting different images from those originally included.
The Oxford researchers have examined ways to thriftily control streambank erosion and make up for past watershed abuse.