DEFINITION of 'Unitary Thrift'
A company that controls a single savings-and-loan association. Unitary thrifts resemble bank holding companies in some respects, but their financial powers are broader in scope. They are authorized to engage in any type of industrial or commercial business.
BREAKING DOWN 'Unitary Thrift'
Unitary thrifts are allowed to open branches anywhere in the U.S. They can also allocate up to 20% of their assets to commercial loans. Because they are still thrift institutions, they must hold at least 65% of their assets in qualified thrift investments, such as residential mortgages or mortgage-backed securities.