Authors: Marino, Dennis R., and Rosser, Lawrence B
Summary
This is the last of a series of papers analyzing private sector initiative reinvestment strategies Service corporations are subsidiaries of savings and loan associations and are used as vehicles to make equity and debt investments that savings associations per se not permitted to make. Service corporations may be ‘Wholly owned subsidiaries of one institution (Home Federal Savings of Cincinnatian’s One Twenty-Eight, Inc.), or they may be owned by a number of associations (The Chicago Area Renewal Effort Service Corporation). In addition, service corporations may function in tandem with local community development corporations (Greater Southwest Service Corporation’s partnership with the Greater Southwest Development Corporation in Chicago). All three service corporations herein discussed are for profit institutions. In addition to describing their purposes, organization and operations, the authors comment in the concluding section of the paper about how public policymakers can. facilitate the work of service corporations as instruments of reinvestment.
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Savings and Loan Service Corporations as Instruments of Reinvestment
