|This entry refers to a departed business — a business that has closed or left town. Information here is mostly for historical reference.|
|530 Front Street, Santa Cruz|
|375 Main Street, Watsonville|
|(enter former owners)|
|January 1, 1929-September 30, 1982|
Monterey Savings and Loan Association was known for sponsoring books about local history. Although out of print, they have "Monterey Savings & Loan" listed as the author. There was also a newsletter called Locale printed by Monterey Savings & Loan. The newsletter included many articles on local history. A few historic buildings in Monterey County, are preserved due to the financial assistance of Monterey Savings and Loan Association. They had several branches in Monterey County and two in Santa Cruz County.
In June of 1982 MONTEREY SAVINGS AND LOAN ASSOCIATION was renamed to MONTEREY SAVINGS AND LOAN ASSOCIATION, A FEDERAL ASSOCIATION. This was to make it clear they were switching to a federal charter instead of a state charter.
In September 1982 it was bought by Coast Federal Savings and Loan Association.
In November 1982, Coast Federal Savings and Loan Association became Coast Federal Bank, Federal Savings Bank as the company changed from a savings and loan to a bank. They still kept the name MONTEREY SAVINGS on the buildings. Some phonebooks show that MONTEREY SAVINGS was a division of Coast Federal.
In March of 1998 Coast Federal Bank was acquired by Home Savings of America. The new owners found it necessary to sell off some of the branches.
Although Monterey Savings & Loan no longer exists, it may still appears as an "active" finance institution on some pages of the internet. Typically a site will grab all the institutions LISTED with the FDIC which includes businesses that have merged or closed.
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