or "thrift" - the nearest American equivalent to the British building societies.
A depository financial institution, federally or state chartered, that obtains the bulk of its deposits from consumers and holds the majority of its assets as home mortgage loans.
A financial institution that channels the savings of its depositors primarily into mortgage loans for purchasing and improving homes. Due to deregulation, however, S & Ls now offer a competitive range of financial products and services.
a thrift institution that is required by law to make a certain percentage of its loans as home mortgages
National- or state-chartered institution that accepts savings deposits and invests the bulk of the funds thus received in mortgages.
Depository institutions that specialize in originating, servicing, and holding mortgage loans, primarily on owner-occupied residential property.
A state or federally-chartered depository financial institution that was primarily a provider of home mortgages but since deregulation in the 1980s to offer services similar to a commercial bank.
State- or federally-chartered financial intermediary that accepts deposits from the public and invests those funds primarily in residential mortgage loans.
A financial institution whose principal function is to promote thrift and home ownership. Depositors earn interest on their deposits, often at a higher rate than is offered at commercial banks. The S&L invests some of these deposits in residential mortgage loans, enabling more people to purchase and/or repair their homes. Savings and loan associations are active participants in the home loan mortgage market. (See thrift)
A mutual or stock association chartered and regulated by the Office of Thrift Supervision. Traditionally, deposits are invested in residential mortgage loans, although savings and loans now have broader lending powers.
Originally an association chartered to hold savings and make mortgage loans. Federally insured and regulated. Active in long term mortgage financing rather than construction loans.
Historically, a depository institution that accepted deposits mainly from individuals and invested heavily in residential mortgage loans. Although still primarily residential lenders, S&Ls may now offer checking-type deposits and make a wider range of loans.
A supplier of mortgages, lending primarily on single-family residential real estate. While savings and loan associations (S&Ls) are not the largest financial intermediary in terms of total assets, historically they have been an important source of funds in terms of the dollars made available for financing real estate.
A business, with a state or federal government charter , that takes deposits from individuals and uses them to make loans , especially mortgage loans. Depositors or shareholders receive part of an S&L's profits as a return on their investment in the S&L, represented by the money they've deposited or the stock that they've purchased.
A depository institution that gets the majority of its deposits from consumers and makes the majority of its loans as home mortgage loans. Also known as savings bank and thrift.
Financial institution that specializes in originating, servicing and holding mortgage loans, primarily on owner-occupied, residential property. S & L's also make home-improvement loans and loans to investors for apartments, industrial property and commercial real estate. Approximately 40% of the S & L's are federally chartered, the rest are state chartered. Federal charters are members of the Federal Home Loan Bank System (FHLBS). All federally chartered S& L's are owned by depositors and the word "federal" must appear in their title. State chartered S & L's can be either mutually owed or stock associations. They have optional membership in both the FHLBS and the FSLIC.
