Clearing the Air
Over the years, there has been persistent confusion between Westwood Savings & Loan and our institution, Westside Savings & Loan, which is located in Westwood.
I’m sure there was some degree of anxiety among our depositors and others when The Times’ business section reported on Feb. 18 that Westwood Savings had been taken over by federal regulators.
To set the record straight, our institution, Westside Savings, is in no financial trouble whatsoever.
In fact, according to the most recent “Safest Thrift List” compiled from Federal Home Loan Bank Board data, Westside Savings is one of only 34 thrifts in California designated as “very safe.” We would appreciate your clarifying this for your readers.
JOSEPH L. BORDA
The writer is chairman of Westside Savings and Loan .