IDAHO GROUPS LOAN
$1,481,266 IN YEAR
Eight Federal  Savings and Loan I
sociations of  State Report Increase
In Accounts and Assets.
Washington, D. C, April 24.—Expansion of home building in Idaho is
emphasized by reports of the eight
federal savings and loan associations
of that state received by the federal
home loan bank board.
Loans for construction, purchase
refinancing and reconditioning
homes made by these association;
showed marked increases during the
last 12 months, the reports revealed
On April 1, 1936, "direct re due '
loans of all types stood at $2,886,158
The total on April 1 this year
$4,367,424,   an  increase  of   $1,481,266.
A direct reduction loan is on '
which the principal is continually decreased by easy monthly payments
until the borrower owns his home free
of debt. This type of mortgage financing is standard practice among federal associations and many state-
chartered  associations.
Assets Also Increase
Assets of the eight federals in Idaho
likewise showed a heavy increase during the 12-month period. Assets on
April 1, 1936, totaled $3,332,470; on
April 1, 1937, the total was $4,803,304,
an increase of $1,470,834.
The number of accounts of investors
in these associations totaled 5,887 on
April 1 this year, an increase of 527
during the year. Accounts of investors in all federal and many state-
chartered associations in the United
States are insured up to $5,000 each
by the Federal Savings & Loan Insurance corporation.
Five pf the eight federals in Idaho
have adopted the new revised charter
which has been applied for by 63 per
cent of all federal associations in the
country. Under this charter, a more
liberal lending and investing policy is
possible. Applications for the new
charter from other federals in Idaho
are pending with the federal home
loan bank system.
Federal associations in Idaho are in
Boise, Coeur d'Alene, Idaho Falls
Lewtston, Nampa, Pocatello and Twip
Falls. .>—-»^