National Trust and Savings Association
Encyclopedia
National Trust and Savings Association, abbreviated NT&SA, is a designation used by national bank
s in the United States
to denote their national charter
. It is significantly less popular than the standard designation National Association (N.A.). Notably, it was used until 1998 by Bank of America NT&SA
, the only major bank to utilize the designation. It was also construed to denote the character of a savings and loan association
, with a focus on home mortgages and savings accounts.
Bank
A bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities:...
s in the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
to denote their national charter
Charter
A charter is the grant of authority or rights, stating that the granter formally recognizes the prerogative of the recipient to exercise the rights specified...
. It is significantly less popular than the standard designation National Association (N.A.). Notably, it was used until 1998 by Bank of America NT&SA
Bank of America NT&SA
Bank of America, National Trust and Savings Association was the primary bank subsidiary of BankAmerica Corp. A.P. Giannini chose this unusual extension for the bank's name in order to highlight its multiple functions when it converted from a state charter to a national one...
, the only major bank to utilize the designation. It was also construed to denote the character of a savings and loan association
Savings and loan association
A savings and loan association , also known as a thrift, is a financial institution that specializes in accepting savings deposits and making mortgage and other loans...
, with a focus on home mortgages and savings accounts.