Federal Savings Association
/ˈfɛdərəl ˈseɪvɪŋz əˌsoʊsiˈeɪʃən/
Definitions
- (n.) A financial institution chartered under federal law, authorized to accept savings deposits and make mortgage and other loans.
The federal savings association expanded its mortgage lending operations last year.
Forms
- federal savings association
- federal savings associations
Related terms
See also
Commentary
Commonly known as a 'thrifts' or 'savings and loan associations,' these entities are regulated primarily by the Office of the Comptroller of the Currency under federal law.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.