GLOSSARY
Branch Office
For banks and thrifts, a branch office is an office approved as a
branch by a supervisory agency. For credit unions, a branch office is
any office where member accounts are established or loans are made,
whether or not the office has been approved as a branch by a federal or
state agency. A branch office does not include offices of affiliates or
loan brokers, offices of the institution where loan applications are
merely taken, or ATMs and other electronic terminals.
For
mortgage companies and other nondepository institutions, a branch
office is an office where the institution takes applications from the
public for home purchase or home improvement loans or refinancings.
Those institutions also are considered to have a branch office in any
MSA where, in the preceding year, they received applications for,
originated, or purchased five or more home purchase or home improvement
loans or refinancings (whether or not they had a physical office
there).
