savings and loan

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savings and loan

n. a banking and lending institution, chartered either by a state or the Federal government. Savings and loans only make loans secured by real property from deposits, upon which they pay interest slightly higher than that paid by most banks. In the early 1980s savings and loans were "de-regulated," allowing them to make loans for speculative land development, removing high reserve funds requirements, and in allowing savings and loans' funds to participate in competition with banks. The result was use of many savings and loans for speculative and dishonest investments, lack of controls, and tremendous losses to thousands of depositors. However, a properly-managed, conservative savings and loan which concentrates on real estate loans guaranteed by the FHA (Federal Housing Administration) and/or sold in the secondary mortgage market can be safe, profitable, and provide a valuable channel for savings into the home finance market.

References in periodicals archive ?
Kentucky Federal Savings and Loan Association operates as a community bank that operates three banking offices in Covington, Florence and Williamstown, Kentucky.
Iroquois Federal Savings and Loan Association is a community-oriented financial institution that conducts its operations from its six full-service banking offices located in the municipalities of Watseka, Danville, Clifton, Hoopeston, Savoy and Bourbonnais, Illinois and its loan production and wealth management office in Osage Beach, Missouri.
Third Federal Savings and Loan Association of Cleveland, MHC, the company's mutual holding company that owns 227,119,132 shares, or 81.0 percent of the company's common stock outstanding, has waived its right to receive the dividend on its shares.
Thanks to USD 16,000 in Partnership Grant Program (PGP) funds from Tucumcari Federal Savings and Loan Association and the Federal Home Loan Bank of Dallas (FHLB Dallas), Tucumcari, New Mexico revitalization efforts will be boosted, the companies said.
Kentucky First Federal Bancorp (NASDAQ: KFFB), the holding company for First Federal Savings and Loan Association of Hazard and First Federal Savings Bank of Kentucky, has reported a net income of USD 935,000 or USD0.11 diluted earnings per share for the year ended June 30, 2017, which represents an USD566,000 or 37.7 percent decrease from the year ended June 30, 2016.
The structure of the PGP allows FHLB Dallas member institutions like Tucumcari Federal Savings and Loan Association to make a contribution of USD 500 to USD 4,000 to a community-based organization (CBO), which FHLB Dallas will match at a 3:1 ratio.
(NASDAQ: IROQ), the holding company for Iroquois Federal Savings and Loan Association, has said that its board of directors declared a cash dividend of USD0.10 per share on its common stock.
(Nasdaq: OFED), the holding company for Oconee Federal Savings and Loan Association, has announced net income of USD 5.5 million, or USD 0.95 per diluted share, for the year ended June 30, 2017, compared to net income of USD 5.2 million, or USD 0.90 per diluted share, for the year ended June 30, 2016, the company said.
Third Federal Savings and Loan Association of Cleveland, MHC (the MHC), the mutual holding company of the company and owner of 227,119,132 shares, or 80 percent of the company's common stock outstanding, has waived its right to receive the dividend on its shares.
Third Federal Savings and Loan Association of Cleveland, MHC (the MHC), the mutual holding company of TFS Financial Corporation and owner of 227,119,132 shares, or 80 percent of the company's common stock outstanding, has waived its right to receive the dividend on its shares.
Oconee Federal Financial is the holding company of Oconee Federal Savings and Loan Association. Oconee Federal Savings and Loan Association is a federally chartered savings and loan association founded in 1924 and headquartered in Seneca, South Carolina.
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