SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT
                         PURSUANT TO SECTION 13 OR 15(d)
                     OF THE SECURITIES EXCHANGE ACT OF 1934


                                February 24, 1999
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                        (Date of earliest event reported)


                               WVS Financial Corp.
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             (Exact name of registrant as specified in its charter)


Pennsylvania                           0-22444                  25-1710500
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(State or other                      (Commission             (IRS Employer
jurisdiction of incorporation)       File Number)            Identification No.)


9001 Perry Highway, Pittsburgh, Pennsylvania                      15237
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(Address of principal executive offices)                        (Zip Code)



                                 (412) 364-1911
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              (Registrant's telephone number, including area code)



                                 Not Applicable
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(Former  name,  former  address and former  fiscal year,  if changed  since last
report)









Item 5. Other Items

        On February 24, 1999, WVS Financial Corp. (the  "Company"),  the holding
company for West View  Savings Bank (the  "Savings  Bank"),  announced  that the
Company's Board of Directors  authorized the repurchase of up to 167,000 shares,
or approximately  five percent,  of the Company's  outstanding common stock. For
additional  information,  reference is made to the Press Release, dated February
24, 1999,  which is attached hereto as Exhibit 99 and is incorporated  herein by
reference.






                                   SIGNATURES

        Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned thereunto duly authorized.

                                                WVS FINANCIAL CORP.



Dated:  February 24, 1999                       By:     /s/ David J. Bursic
                                                        -------------------
                                                        David J. Bursic
                                                        President and
                                                        Chief Executive Officer