Customers of some of the collapsed Savings and Loans
companies in Kumasi, including an iced water seller, who has her GHC400 locked up, besieged their respective banks' premises yesterday to withdraw their funds, following Bank of Ghana announcement over the weekend that they are insolvent.
On the other hand, under RA 8367, otherwise known as the 'Revised Non-Stock Savings and Loan
Association Act of 1997,' a savings and loan
association is a 'nonstock, nonprofit corporation engaged in the business of accumulating the savings of its members and using such accumulations for loans to members to service the needs of households by providing long- term financing for home building and development and for personal
Third Federal Savings and Loan
Association is a provider of savings and mortgage products and was founded in Cleveland in 1938 as a mutual association.
The Federal Reserve Board will continue to be the primary banking regulator for Cambray MHC and Gouverneur Bancorp, Inc., both of which will remain as savings and loan
holding companies following the charter conversion.
Applicants have also requested the Board's permission under section 4 to acquire interests in the following savings associations: voting authority over 5.74 percent of the voting shares of First Bell Bancorp, Inc., Pittsburgh, parent company of Bell Federal Savings and Loan
Association, Bellevue, both in Pennsylvania; voting authority over 5.67 percent of the voting shares of Quaker City Bancorp, Inc., parent company of Quaker City Bank, both in Whittier, California; and voting authority over 6.1 percent of the voting shares of Hawthorne Financial Corporation, parent company of Hawthorne Savings, F.S.B., both in El Segundo, California.
But at least the depositors in the savings and loan
disaster were bailed out.
(+.)The only remaining state-chartered savings and loan
Seven years have passed since his Lincoln Savings and Loan
became the symbol of an industry gone mad.
Financial managers may also act as department managers, branch managers, credit union managers, or savings and loan
IN THE MARCH QUARTER OF 1991, for the first time in four years, the private-sector portion of the savings and loan
industry - those companies not in the hands of the government - showed a profit, aggregating $627 million.
M2 EQUITYBITES-October 8, 2013--Gouverneur Savings and Loan
Association applies for state charter(C)2013 M2 COMMUNICATIONS http://www.m2.com