S&L; Members Pledge Money to Mead Unit

In what is being termed the “largest (commitment) ever to Mead,” Savings Assn. Mortgage Co. members have pledged $5,435,000 in new loan money to buyers of Mead nonprofit homes, according to Donald B. Nicolson, president of Mead Housing.

Participating associations include California Federal, Coast, First Federal of Santa Monica, First Nationwide, Glendale Federal, Great Western, Home Savings, Imperial Savings, Mercury Savings, Pomona First, San Francisco, Santa Barbara, Sears, Valley Federal and World.

Mead Housing builds single-family detached homes for moderate-income families in Pomona, South Central Los Angeles, Watts, San Fernando and Pacoima. Its offices are at 1644 Wilshire Blvd., Suite 202.