18-202D 18-202D . . . Restricted Stock Plan and Trust Agreement for federal savings and loan association ("corporation") under which (a) corporation will contribute funds to Restricted Stock Plan ("Plan") and Plan will (i) purchase common stock in open market or (ii) purchase authorized but unissued shares of common stock from corporation, and (b) committee of Board of Directors can grant Restricted Stock Awards to directors, officers and key employees, Twenty percent of such Awards are earned and become non-forfeitable on one-year anniversary of date of grant and an additional 20% are earned and become non-forfeitable annually thereafter; provided that recipient of Award remains an employee or director of corporation during such period. Dividends paid on Restricted Stock Awards are held in arrears and distributed on date such applicable Restricted Stock Awards are earned
New York Restricted Stock Plan and Trust Agreement of Home Federal Savings and Loan Assoc.
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Pros of credit unions Credit union profits go back to members, who are shareholders. This enables credit unions to charge lower interest rates on loans, including mortgages, and pay higher yields on savings products, such as share certificates (the credit union equivalent of certificates of deposit).
Savings and Loans/Savings Banks Savings and loan associations and savings banks specialize in real estate lending, particularly loans for single-family homes and other residential properties. They can be owned by shareholders ("stock" ownership), or by their depositors and borrowers ("mutual" ownership).
Primary Assets- Business and consumer loans, mortgages, U.S. government securities, and municipal bonds.
Savings and loan (S&L) associations (also called thrifts) are lending and banking institutions specialized in offering residential mortgage loans and accepting savings deposits. S&L associations may also offer other services that commercial banks provide to their customers, such as checks and other types of loans.
Hear this out loud PausePros. Higher deposit rates. S&L associations provide higher interest rates on accounts to encourage more deposits, so they have funds available for loans. Invests in the community.