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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

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.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.
References in periodicals archive ?
Congressional Record quotes an unnamed speaker as saying "an idle and thriftless race of savages cannot be permitted to stand guard at the treasure vaults of the nation which hold our gold and silver.
The bankers knew they were lending money to a man who ran a tight ship, who was not thriftless or mad.
On the other hand, I have learned from practical experience amongst the Roman Catholic people of Ireland that...they are apathetic, thriftless, and almost non-industrial, and that they especially require the exercise of strengthening influences on their moral fibre (p.
How these men come to be so disordered is a question that goes beyond the scope of the York study although its authors offered a sympathetic perspective: 'Indeed, we often wonder if those of us who are apt to stand apart and judge thriftless drunkards with but little sympathy would, under similar conditions, have done better than they!
Yet they must, against their will, help support those who have induced weakness and illness by foolish living, those who are frequently ailing and are most apt to play sick or to fancy they are sick when they are really well enough to work; and who would work if it were not made easy for them to 'lay off.' The American citizen who saves his money for investment in the United States would have to help support the alien who sends his savings abroad; the thrifty would be called upon to support the thriftless; the virtuous would be taxed for the benefit of the vicious, the temperate for the intemperate; all by the authority of the State."(16)
Then I always remember the words a man named Charles Dudley Warner wrote back in 1887, maybe sitting in the,, same ancient bar: I suppose we are afl wrongly made up and have a fallen nature; else why is it that the most thrifty and neat and orderly city only wins our approval, and perhaps gratifies us intellectually, and such a thriftless, battered and, stained, and lazy old place as the French quarter of New Orleans takes our hearts?"
Thomas Conant voiced all-too-common prejudices in his Upper Canada Sketches, asking bluntly "whether the hard-working and the thrifty ought to be taxed to provide for the lazy and the thriftless. Or again, is it wise to foster the growth of a class of persons whose filth and foul diseases are the result of laziness and their own vices." (54)
is a happy, thriftless, excitable person, lacking in self control and foresight, naturally courageous, and naturally courteous and polite, full of personal vanity, with little sense of veracity ...
The men are thriftless, proud, extravagant, and very much given to gaming." Alfred Robinson (a Yankee married to a Californiana) published in 1846 the influential Life in California, in which he declared that Californio men were "generally indolent, and addicted to many vices, caring little for the welfare of their children, who like themselves, grow up unworthy members of society." Such racial and cultural vilifications seemed to justify American annexationist ambitions toward Mexican California.
He says the Irish are "apathetic, thriftless and non-industrial".