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thrift institution
Thesaurus| Noun | 1. | thrift institution - a depository financial institution intended to encourage personal savings and home buyingbanking company, banking concern, depository financial institution, bank - a financial institution that accepts deposits and channels the money into lending activities; "he cashed a check at the bank"; "that bank holds the mortgage on my home"savings and loan, savings and loan association - a thrift institution that is required by law to make a certain percentage of its loans as home mortgagessavings bank - a thrift institution in the northeastern United States; since deregulation in the 1980s they offer services competitive with many commercial banks |
EncyclopediaSeesavings and loan associationLegalSeeSavings and Loan AssociationThrift institution
Thrift institutionAn organization formed as a depository for primarily consumer savings. Savings and loan associations and savings banks are thrift institutions.Federal Savings and Loan AssociationA 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 institution
Words related to thrift institutionnoun a depository financial institution intended to encourage personal savings and home buyingRelated Words- banking company
- banking concern
- depository financial institution
- bank
- savings and loan
- savings and loan association
- savings bank
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