Registration No. 333-______
                                                         Filed November 25, 2008

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                    FORM S-8

             REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933

                               WVS Financial Corp.
--------------------------------------------------------------------------------
             (Exact Name of Registrant as Specified in Its Charter)

Pennsylvania                                                          25-1710500
--------------------------------------------------------------------------------
(State or Other Jurisdiction of                                 (I.R.S. Employer
Incorporation or Organization)                               Identification No.)

9001 Perry Highway, Pittsburgh, Pennsylvania                               15237
--------------------------------------------------------------------------------
(Address of Principal Executive Offices)                              (Zip Code)

                  WVS Financial Corp. 2008 Stock Incentive Plan
--------------------------------------------------------------------------------
                            (Full Title of the Plan)

   David J. Bursic                         Copies to:
   President and Chief Executive Officer   Kenneth B. Tabach, Esq.
   WVS Financial Corp.                     Elias, Matz, Tiernan & Herrick L.L.P.
   9001 Perry Highway                      734 15th Street, N.W.
   Pittsburgh, Pennsylvania 15237          Washington, D.C. 20005
   (412) 364-1911                          (202) 347-0300
--------------------------------------------------------------------------------
            (Name, Address and Telephone Number of Agent For Service)

Indicate by check mark whether the registrant is a large  accelerated  filer, an
accelerated filer, a non-accelerated  filer, or a smaller reporting company. See
the definitions of "large accelerated  filer,"  "accelerated filer" and "smaller
reporting company" in Rule 12b-2 of the Exchange Act.

Large accelerated filer  [_]                    Accelerated filer          [_]
Non-accelerated filer    [_]                    Smaller reporting company  [X]
(Do not check if a smaller reporting company)

<TABLE>
<CAPTION>
                                                  CALCULATION OF REGISTRATION FEE
                                                  -------------------------------

                                                                   Proposed Maximum     Proposed Maximum
                                              Amount to be        Offering Price Per   Aggregate Offering       Amount of
 Title of Securities to be Registered         Registered (1)            Share                Price           Registration Fee
----------------------------------------   --------------------   ------------------   -------------------   ----------------
<S>                                         <C>                       <C>               <C>                     <C>
Common Stock, par value $.01 per share      152,000 shares (2)         $16.10(2)         $2,447,200(3)           $96.18

</TABLE>

-------------------------
(1)   Together with an  indeterminate  number of additional  shares which may be
      necessary to adjust the number of shares reserved for issuance pursuant to
      the WVS Financial Corp. 2008 Stock Incentive Plan (the "Plan") as a result
      of a stock split,  stock dividend or similar adjustment of the outstanding
      common stock, par value $.01 per share ("Common Stock"),  of WVS Financial
      Corp. (the "Company").
(2)   Represents shares currently reserved for issuance pursuant to the Plan.
(3)   Estimated  solely for the purposes of calculating the  registration fee in
      accordance  with Rule 457(c)  promulgated  under the  Securities  Act. The
      Proposed  Maximum  Offering Price Per Share is equal to the average of the
      high and low prices of the Common  Stock on November  18, 2008 as reported
      by the Nasdaq Stock Market, LLC.

                       ----------------------------------

         This Registration  Statement shall become effective  automatically upon
the date of filing in accordance  with Section 8(a) of the Securities Act and 17
C.F.R. 230.462.

<PAGE>

                                     PART I

Item 1.           Plan Information.*

Item 2.           Registrant Information and Employee Plan Annual Information.*

----------------
*        Information  required by Part I to be  contained  in the Section  10(a)
         prospectus  is omitted from the  registration  statement in  accordance
         with Rule 428 under the Securities Act and the "Note" to Part I on Form
         S-8.

                                     PART II

               INFORMATION REQUIRED IN THE REGISTRATION STATEMENT

Item 3.           Incorporation of Documents by Reference.

         The following  documents  filed or to be filed with the  Securities and
Exchange  Commission (the  "Commission")  are  incorporated by reference in this
registration statement:

         (a)      The  Company's  Annual  Report on Form 10-K for the year ended
                  June 30, 2008;

         (b)      All reports filed by the Company pursuant to Sections 13(a) or
                  15(d) of the  Securities  Exchange Act of 1934 (the  "Exchange
                  Act"),  since  the  end  of the  fiscal  year  covered  by the
                  financial  statements  in the Form 10-K  referred to in clause
                  (a) above;

         (c)      The  description of the Common Stock of the Company  contained
                  in the  Prospectus  under  the  heading,  "Description  of Our
                  Capital Stock" in the Company's Registration Statement on Form
                  S-1 filed on August 16, 1993, as amended (File No.  33-67506);
                  and

         (d)      All documents filed by the Company pursuant to Sections 13(a),
                  13(c),  14 or 15(d) of the  Exchange Act after the date hereof
                  and prior to the filing of a  post-effective  amendment  which
                  indicates that all securities  offered have been sold or which
                  deregisters all securities then remaining unsold.

         Any  statement  contained  in  this  registration  statement,  or  in a
document incorporated or deemed to be incorporated by reference herein, shall be
deemed to be modified or superseded for purposes of this registration  statement
to the extent that a statement  contained herein,  or in any other  subsequently
filed  document  which  also is or is deemed  to be  incorporated  by  reference
herein, modifies or supersedes such statement. Any such statement so modified or
superseded  shall  not be  deemed,  except  as so  modified  or  superseded,  to
constitute a part of this registration statement.

                                       2
<PAGE>

Item 4.           Description of Securities.

         Not  applicable  since the Company's  Common Stock is registered  under
Section 12 of the Exchange Act.

Item 5.           Interests of Named Experts and Counsel.

         Not applicable.

Item 6.           Indemnification of Directors and Officers.

         Article  8  of  the  Registrant's   Amended  and  Related  Articles  of
Incorporation provides as follows:

         Article 8. Indemnification,  etc. of Officers, Directors, Employees and
Agents.

         A. Personal Liability of Directors. A director of the Corporation shall
not be  personally  liable for  monetary  damages for any action  taken,  or any
failure to take any  action,  as a director  except to the extent  that by law a
director's liability for monetary damages may not be limited.

         B. Indemnification.  The Corporation shall indemnify any person who was
or is a party or is threatened to be made a party to any threatened,  pending or
completed  action,  suit or proceeding,  including actions by or in the right of
the Corporation,  whether civil, criminal,  administrative or investigative,  by
reason of the fact that such person is or was a director,  officer,  employee or
agent of the Corporation, or is or was serving at the request of the Corporation
as a director,  officer, employee or agent of another corporation,  partnership,
joint venture, trust or other enterprise, against expenses (including attorneys'
fees),  judgments,  fines and amounts paid in settlement actually and reasonably
incurred by such person in  connection  with such action,  suit or proceeding to
the full extent permissible under Pennsylvania law.

         C. Advancement of Expenses. Reasonable expenses incurred by an officer,
director,  employee or agent of the Corporation in defending a civil or criminal
action, suit or proceeding  described in Section B of this Article 8 may be paid
by the Corporation in advance of the final  disposition of such action,  suit or
proceeding  upon  receipt of an  undertaking  by or on behalf of such  person to
repay such amount if it shall  ultimately be  determined  that the person is not
entitled to be indemnified by the Corporation.

         D. Other  Rights.  The  indemnification  and  advancement  of  expenses
provided by or pursuant to this  Article 8 shall not be deemed  exclusive of any
other rights to which those seeking  indemnification  or advancement of expenses
may be entitled under any insurance or other agreement,  vote of stockholders or
directors or otherwise,  both as to actions in their official capacity and as to
actions in another capacity while holding an office,  and shall continue as to a
person who has ceased to be a  director,  officer,  employee  or agent and shall
inure to the benefit of the heirs, executors and administrators of such person.

                                       3
<PAGE>

         E.  Insurance.  The  Corporation  shall have the power to purchase  and
maintain  insurance  on behalf of any person who is or was a director,  officer,
employee or agent of the Corporation, or is or was serving at the request of the
Corporation as a director,  officer,  employee or agent of another  corporation,
partnership,  joint venture,  trust or other  enterprise,  against any liability
asserted against him and incurred by him in any such capacity, or arising out of
his  status as such,  whether  or not the  Corporation  would  have the power to
indemnify him against such liability under the provisions of this Article 8.

         F.  Security  Fund;  Indemnity  Agreements.  By  action of the Board of
Directors  (notwithstanding their interest in the transaction),  the Corporation
may  create  and fund a trust  fund or fund of any  nature,  and may enter  into
agreements with its officers, directors, employees and agents for the purpose of
securing  or  insuring  in any manner its  obligation  to  indemnify  or advance
expenses provided for in this Article 8.

         G.  Modification.  The duties of the  Corporation  to indemnify  and to
advance  expenses to any person as  provided  in this  Article 8 shall be in the
nature of a  contract  between  the  Corporation  and each such  person,  and no
amendment  or repeal of any  provision  of this  Article 8, and no  amendment or
termination  of any trust or other fund  created  pursuant  to Section F of this
Article 8, shall alter to the  detriment of such person the right of such person
to the advance of expenses or indemnification related to a claim based on an act
or  failure  to act  which  took  place  prior  to  such  amendment,  repeal  or
termination.

         H. Proceedings  Initiated by Indemnified  Persons.  Notwithstanding any
other  provision  of this  Article  8, the  Corporation  shall not  indemnify  a
director,  officer,  employee or agent for any liability  incurred in an action,
suit  or   proceeding   initiated   (which   shall  not  be  deemed  to  include
counter-claims  or affirmative  defenses) or participated in as an intervenor or
amicus curiae by the person seeking indemnification unless such initiation of or
participation in the action, suit or proceeding is authorized,  either before or
after its  commencement,  by the affirmative vote of a majority of the directors
in office.

Item 7.           Exemption from Registration Claimed.

         Not  applicable  since no  restricted  securities  will be reoffered or
resold pursuant to this registration statement.


                                       4
<PAGE>

Item 8.           Exhibits.

         The following exhibits are filed with or incorporated by reference into
this registration  statement on Form S-8 (numbering corresponds to Exhibit Table
in Item 601 of Regulation S-K):

         No.      Exhibit
       -------    --------------------------------------------------------------
         4.0      Form of Common Stock certificate(1)
         5.0      Opinion  of  Elias,  Matz,  Tiernan  &  Herrick  L.L.P.  as to
                  legality of the Common Stock
         10.0     WVS Financial Corp. 2008 Stock Incentive Plan(2)
         23.1     Consent of Elias, Matz, Tiernan & Herrick L.L.P.  (included in
                  Exhibit 5.0)
         23.2     Consent of S.R. Snodgrass, A.C.
         24.0     Power of attorney for any subsequent  amendments is located in
                  the signature pages

         ---------------
         (1)      Incorporated  by  reference  from the  Company's  registration
                  statement on Form S-1  (Commission  File No.  33-67506)  filed
                  with the Commission on August 16, 1993, as amended.
         (2)      Incorporated by reference from the Company's  definitive proxy
                  statement  for the  Annual  Meeting  of  Stockholders  held on
                  October 28, 2008  (Commission  File No.  000-22444) filed with
                  the Commission on September 26, 2008.



                                       5
<PAGE>

Item 9.           Undertakings.

         The undersigned Registrant hereby undertakes:

         1. To file,  during any period in which offers or sales are being made,
a post-effective  amendment to this Registration  Statement:  (i) to include any
prospectus  required by Section  10(a)(3) of the Securities Act; (ii) to reflect
in the  prospectus  any facts or events  arising after the effective date of the
Registration  Statement (or the most recent  post-effective  amendment  thereof)
which,  individually or in the aggregate,  represent a fundamental change in the
information set forth in the  registration  statement;  and (iii) to include any
material  information  with respect to the plan of  distribution  not previously
disclosed  in  the  registration  statement  or  any  material  change  to  such
information in the registration statement;  provided,  however, that clauses (i)
and  (ii)  do  not  apply  if  the  information  required  to be  included  in a
post-effective amendment by those clauses is contained in periodic reports filed
by the  Registrant  pursuant to Section 13 or Section  15(d) of the Exchange Act
that are incorporated by reference in the registration statement.

         2.  That,  for the  purpose  of  determining  any  liability  under the
Securities Act, each such  post-effective  amendment shall be deemed to be a new
registration  statement  relating to the  securities  offered  therein,  and the
offering of such  securities at that time shall be deemed to be the initial bona
fide offering thereof.

         3. To remove from  registration by means of a post-effective  amendment
any of the securities being registered which remain unsold at the termination of
the offering.

         4. That,  for the  purposes  of  determining  any  liability  under the
Securities  Act,  each  filing of the  Registrant's  annual  report  pursuant to
Section  13(a) or Section  15(d) of the  Exchange  Act that is  incorporated  by
reference in the registration statement shall be deemed to be a new registration
statement relating to the securities  offered therein,  and the offering of such
securities  at that time shall be deemed to be the  initial  bona fide  offering
thereof.

         5.  Insofar  as  indemnification  for  liabilities  arising  under  the
Securities Act may be permitted to directors,  officers and controlling  persons
of the  Registrant  pursuant to the  foregoing  provisions,  or  otherwise,  the
Registrant  has  been  advised  that  in  the  opinion  of the  Commission  such
indemnification  is against public policy as expressed in the Securities Act and
is,  therefore,  unenforceable.  In the event  that a claim for  indemnification
against  liabilities  (other  than the  payment by the  Registrant  of  expenses
incurred or paid by a director,  officer or controlling person of the Registrant
in the successful defense of any action, suit or proceeding) is asserted by such
director,  officer or controlling person in connection with the securities being
registered, the Registrant will, unless in the opinion of its counsel the matter
has been  settled by  controlling  precedent,  submit to a court of  appropriate
jurisdiction the questions whether such  indemnification by it is against public
policy as  expressed  in the  Securities  Act and will be  governed by the final
adjudication of such issue.

                                       6
<PAGE>

                                   SIGNATURES

         Pursuant  to the  requirements  of the  Securities  Act  of  1933,  the
Registrant certifies that it has reasonable grounds to believe that it meets all
of the requirements for filing on Form S-8 and has duly caused this registration
statement  to be  signed  on its  behalf  by  the  undersigned,  thereunto  duly
authorized,  in the city of Pittsburgh,  Commonwealth of  Pennsylvania,  on this
24th day of November 2008.

                                    WVS FINANCIAL CORP.

                                    By:    /s/ David J. Bursic
                                           -------------------------------------
                                           David J. Bursic
                                           President and Chief Executive Officer

         Pursuant  to the  requirements  of the  Securities  Act of  1933,  this
registration  statement  has  been  signed  by  the  following  persons  in  the
capacities and on the dates indicated. Each person whose signature appears below
hereby  makes,  constitutes  and  appoints  David J.  Bursic his or her true and
lawful  attorney,  with full power to sign for such person and in such  person's
name and capacity  indicated  below, and with full power of substitution any and
all amendments to this registration  statement,  hereby ratifying and confirming
such  person's  signature  as it may be signed by said  attorney  to any and all
amendments.

<TABLE>
<CAPTION>

          Name                  Title                                  Date
---------------------------     ----------------------------------     -----------------
<S>                             <C>                                    <C>
/s/ David J. Bursic             Director, President and Chief          November 24, 2008
---------------------------     Executive Officer (principal
David J. Bursic                 executive officer)

/s/Jonathan D. Hoover           Director, Senior Vice President -      November 24, 2008
---------------------------     Operations
Jonathan D. Hoover

/s/ Keith A. Simpson            Vice President, Treasurer and          November 24, 2008
---------------------------     Chief Financial Officer (principal
Keith A. Simpson                financial and accounting officer)

/s/ David L. Aeberli            Chairman of the Board                  November 24, 2008
---------------------------
David L. Aeberli

                                       7
<PAGE>
<CAPTION>

          Name                  Title                                  Date
---------------------------     ----------------------------------     -----------------
<S>                             <C>                                    <C>

/s/ John W. Grace               Director                               November 24, 2008
---------------------------
John W. Grace

/s/ Lawrence M. Lehman          Director                               November 24, 2008
---------------------------
Lawrence M. Lehman

/s/ Margaret VonDerau           Director                               November 24, 2008
---------------------------
Margaret VonDerau


</TABLE>

                                       8
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{"company-data": {"conformed-name": "WVS FINANCIAL CORP", "cik": "0000910679", "assigned-sic": "6036", "irs-number": "251710500", "state-of-incorporation": "PA", "fiscal-year-end": "0630"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-155647", "film-number": "081213268"}, "business-address": {"street1": "9001 PERRY HIGHWAY", "city": "PITTSBURGH", "state": "PA", "zip": "15237", "phone": "4123641911"}, "mail-address": {"street1": "9001 PERRY HIGHWAY", "city": "PITTSBURG", "state": "PA", "zip": "15237"}}
Registration No. 333-______
                                                         Filed November 25, 2008

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                    FORM S-8

             REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933

                               WVS Financial Corp.
--------------------------------------------------------------------------------
             (Exact Name of Registrant as Specified in Its Charter)

Pennsylvania                                                          25-1710500
--------------------------------------------------------------------------------
(State or Other Jurisdiction of                                 (I.R.S. Employer
Incorporation or Organization)                               Identification No.)

9001 Perry Highway, Pittsburgh, Pennsylvania                               15237
--------------------------------------------------------------------------------
(Address of Principal Executive Offices)                              (Zip Code)

                  WVS Financial Corp. 2008 Stock Incentive Plan
--------------------------------------------------------------------------------
                            (Full Title of the Plan)

   David J. Bursic                         Copies to:
   President and Chief Executive Officer   Kenneth B. Tabach, Esq.
   WVS Financial Corp.                     Elias, Matz, Tiernan & Herrick L.L.P.
   9001 Perry Highway                      734 15th Street, N.W.
   Pittsburgh, Pennsylvania 15237          Washington, D.C. 20005
   (412) 364-1911                          (202) 347-0300
--------------------------------------------------------------------------------
            (Name, Address and Telephone Number of Agent For Service)

Indicate by check mark whether the registrant is a large  accelerated  filer, an
accelerated filer, a non-accelerated  filer, or a smaller reporting company. See
the definitions of "large accelerated  filer,"  "accelerated filer" and "smaller
reporting company" in Rule 12b-2 of the Exchange Act.

Large accelerated filer  [_]                    Accelerated filer          [_]
Non-accelerated filer    [_]                    Smaller reporting company  [X]
(Do not check if a smaller reporting company)
CALCULATION OF REGISTRATION FEE
                                                  -------------------------------

                                                                   Proposed Maximum     Proposed Maximum
                                              Amount to be        Offering Price Per   Aggregate Offering       Amount of
 Title of Securities to be Registered         Registered (1)            Share                Price           Registration Fee
----------------------------------------   --------------------   ------------------   -------------------   ----------------
Common Stock, par value $.01 per share      152,000 shares (2)         $16.10(2)         $2,447,200(3)           $96.18
-------------------------
(1)   Together with an  indeterminate  number of additional  shares which may be
      necessary to adjust the number of shares reserved for issuance pursuant to
      the WVS Financial Corp. 2008 Stock Incentive Plan (the "Plan") as a result
      of a stock split,  stock dividend or similar adjustment of the outstanding
      common stock, par value $.01 per share ("Common Stock"),  of WVS Financial
      Corp. (the "Company").
(2)   Represents shares currently reserved for issuance pursuant to the Plan.
(3)   Estimated  solely for the purposes of calculating the  registration fee in
      accordance  with Rule 457(c)  promulgated  under the  Securities  Act. The
      Proposed  Maximum  Offering Price Per Share is equal to the average of the
      high and low prices of the Common  Stock on November  18, 2008 as reported
      by the Nasdaq Stock Market, LLC.

                       ----------------------------------

         This Registration  Statement shall become effective  automatically upon
the date of filing in accordance  with Section 8(a) of the Securities Act and 17
C.F.R. 230.462.
PART I

Item 1.           Plan Information.*

Item 2.           Registrant Information and Employee Plan Annual Information.*

----------------
*        Information  required by Part I to be  contained  in the Section  10(a)
         prospectus  is omitted from the  registration  statement in  accordance
         with Rule 428 under the Securities Act and the "Note" to Part I on Form
         S-8.

                                     PART II

               INFORMATION REQUIRED IN THE REGISTRATION STATEMENT

Item 3.           Incorporation of Documents by Reference.

         The following  documents  filed or to be filed with the  Securities and
Exchange  Commission (the  "Commission")  are  incorporated by reference in this
registration statement:

         (a)      The  Company's  Annual  Report on Form 10-K for the year ended
                  June 30, 2008;

         (b)      All reports filed by the Company pursuant to Sections 13(a) or
                  15(d) of the  Securities  Exchange Act of 1934 (the  "Exchange
                  Act"),  since  the  end  of the  fiscal  year  covered  by the
                  financial  statements  in the Form 10-K  referred to in clause
                  (a) above;

         (c)      The  description of the Common Stock of the Company  contained
                  in the  Prospectus  under  the  heading,  "Description  of Our
                  Capital Stock" in the Company's Registration Statement on Form
                  S-1 filed on August 16, 1993, as amended (File No.  33-67506);
                  and

         (d)      All documents filed by the Company pursuant to Sections 13(a),
                  13(c),  14 or 15(d) of the  Exchange Act after the date hereof
                  and prior to the filing of a  post-effective  amendment  which
                  indicates that all securities  offered have been sold or which
                  deregisters all securities then remaining unsold.

         Any  statement  contained  in  this  registration  statement,  or  in a
document incorporated or deemed to be incorporated by reference herein, shall be
deemed to be modified or superseded for purposes of this registration  statement
to the extent that a statement  contained herein,  or in any other  subsequently
filed  document  which  also is or is deemed  to be  incorporated  by  reference
herein, modifies or supersedes such statement. Any such statement so modified or
superseded  shall  not be  deemed,  except  as so  modified  or  superseded,  to
constitute a part of this registration statement.

                                       2
Item 4.           Description of Securities.

         Not  applicable  since the Company's  Common Stock is registered  under
Section 12 of the Exchange Act.

Item 5.           Interests of Named Experts and Counsel.

         Not applicable.

Item 6.           Indemnification of Directors and Officers.

         Article  8  of  the  Registrant's   Amended  and  Related  Articles  of
Incorporation provides as follows:

         Article 8. Indemnification,  etc. of Officers, Directors, Employees and
Agents.

         A. Personal Liability of Directors. A director of the Corporation shall
not be  personally  liable for  monetary  damages for any action  taken,  or any
failure to take any  action,  as a director  except to the extent  that by law a
director's liability for monetary damages may not be limited.

         B. Indemnification.  The Corporation shall indemnify any person who was
or is a party or is threatened to be made a party to any threatened,  pending or
completed  action,  suit or proceeding,  including actions by or in the right of
the Corporation,  whether civil, criminal,  administrative or investigative,  by
reason of the fact that such person is or was a director,  officer,  employee or
agent of the Corporation, or is or was serving at the request of the Corporation
as a director,  officer, employee or agent of another corporation,  partnership,
joint venture, trust or other enterprise, against expenses (including attorneys'
fees),  judgments,  fines and amounts paid in settlement actually and reasonably
incurred by such person in  connection  with such action,  suit or proceeding to
the full extent permissible under Pennsylvania law.

         C. Advancement of Expenses. Reasonable expenses incurred by an officer,
director,  employee or agent of the Corporation in defending a civil or criminal
action, suit or proceeding  described in Section B of this Article 8 may be paid
by the Corporation in advance of the final  disposition of such action,  suit or
proceeding  upon  receipt of an  undertaking  by or on behalf of such  person to
repay such amount if it shall  ultimately be  determined  that the person is not
entitled to be indemnified by the Corporation.

         D. Other  Rights.  The  indemnification  and  advancement  of  expenses
provided by or pursuant to this  Article 8 shall not be deemed  exclusive of any
other rights to which those seeking  indemnification  or advancement of expenses
may be entitled under any insurance or other agreement,  vote of stockholders or
directors or otherwise,  both as to actions in their official capacity and as to
actions in another capacity while holding an office,  and shall continue as to a
person who has ceased to be a  director,  officer,  employee  or agent and shall
inure to the benefit of the heirs, executors and administrators of such person.

                                       3
E.  Insurance.  The  Corporation  shall have the power to purchase  and
maintain  insurance  on behalf of any person who is or was a director,  officer,
employee or agent of the Corporation, or is or was serving at the request of the
Corporation as a director,  officer,  employee or agent of another  corporation,
partnership,  joint venture,  trust or other  enterprise,  against any liability
asserted against him and incurred by him in any such capacity, or arising out of
his  status as such,  whether  or not the  Corporation  would  have the power to
indemnify him against such liability under the provisions of this Article 8.

         F.  Security  Fund;  Indemnity  Agreements.  By  action of the Board of
Directors  (notwithstanding their interest in the transaction),  the Corporation
may  create  and fund a trust  fund or fund of any  nature,  and may enter  into
agreements with its officers, directors, employees and agents for the purpose of
securing  or  insuring  in any manner its  obligation  to  indemnify  or advance
expenses provided for in this Article 8.

         G.  Modification.  The duties of the  Corporation  to indemnify  and to
advance  expenses to any person as  provided  in this  Article 8 shall be in the
nature of a  contract  between  the  Corporation  and each such  person,  and no
amendment  or repeal of any  provision  of this  Article 8, and no  amendment or
termination  of any trust or other fund  created  pursuant  to Section F of this
Article 8, shall alter to the  detriment of such person the right of such person
to the advance of expenses or indemnification related to a claim based on an act
or  failure  to act  which  took  place  prior  to  such  amendment,  repeal  or
termination.

         H. Proceedings  Initiated by Indemnified  Persons.  Notwithstanding any
other  provision  of this  Article  8, the  Corporation  shall not  indemnify  a
director,  officer,  employee or agent for any liability  incurred in an action,
suit  or   proceeding   initiated   (which   shall  not  be  deemed  to  include
counter-claims  or affirmative  defenses) or participated in as an intervenor or
amicus curiae by the person seeking indemnification unless such initiation of or
participation in the action, suit or proceeding is authorized,  either before or
after its  commencement,  by the affirmative vote of a majority of the directors
in office.

Item 7.           Exemption from Registration Claimed.

         Not  applicable  since no  restricted  securities  will be reoffered or
resold pursuant to this registration statement.

                                       4
Item 8.           Exhibits.

         The following exhibits are filed with or incorporated by reference into
this registration  statement on Form S-8 (numbering corresponds to Exhibit Table
in Item 601 of Regulation S-K):

         No.      Exhibit
       -------    --------------------------------------------------------------
         4.0      Form of Common Stock certificate(1)
         5.0      Opinion  of  Elias,  Matz,  Tiernan  &  Herrick  L.L.P.  as to
                  legality of the Common Stock
         10.0     WVS Financial Corp. 2008 Stock Incentive Plan(2)
         23.1     Consent of Elias, Matz, Tiernan & Herrick L.L.P.  (included in
                  Exhibit 5.0)
         23.2     Consent of S.R. Snodgrass, A.C.
         24.0     Power of attorney for any subsequent  amendments is located in
                  the signature pages

         ---------------
         (1)      Incorporated  by  reference  from the  Company's  registration
                  statement on Form S-1  (Commission  File No.  33-67506)  filed
                  with the Commission on August 16, 1993, as amended.
         (2)      Incorporated by reference from the Company's  definitive proxy
                  statement  for the  Annual  Meeting  of  Stockholders  held on
                  October 28, 2008  (Commission  File No.  000-22444) filed with
                  the Commission on September 26, 2008.

                                       5
Item 9.           Undertakings.

         The undersigned Registrant hereby undertakes:

         1. To file,  during any period in which offers or sales are being made,
a post-effective  amendment to this Registration  Statement:  (i) to include any
prospectus  required by Section  10(a)(3) of the Securities Act; (ii) to reflect
in the  prospectus  any facts or events  arising after the effective date of the
Registration  Statement (or the most recent  post-effective  amendment  thereof)
which,  individually or in the aggregate,  represent a fundamental change in the
information set forth in the  registration  statement;  and (iii) to include any
material  information  with respect to the plan of  distribution  not previously
disclosed  in  the  registration  statement  or  any  material  change  to  such
information in the registration statement;  provided,  however, that clauses (i)
and  (ii)  do  not  apply  if  the  information  required  to be  included  in a
post-effective amendment by those clauses is contained in periodic reports filed
by the  Registrant  pursuant to Section 13 or Section  15(d) of the Exchange Act
that are incorporated by reference in the registration statement.

         2.  That,  for the  purpose  of  determining  any  liability  under the
Securities Act, each such  post-effective  amendment shall be deemed to be a new
registration  statement  relating to the  securities  offered  therein,  and the
offering of such  securities at that time shall be deemed to be the initial bona
fide offering thereof.

         3. To remove from  registration by means of a post-effective  amendment
any of the securities being registered which remain unsold at the termination of
the offering.

         4. That,  for the  purposes  of  determining  any  liability  under the
Securities  Act,  each  filing of the  Registrant's  annual  report  pursuant to
Section  13(a) or Section  15(d) of the  Exchange  Act that is  incorporated  by
reference in the registration statement shall be deemed to be a new registration
statement relating to the securities  offered therein,  and the offering of such
securities  at that time shall be deemed to be the  initial  bona fide  offering
thereof.

         5.  Insofar  as  indemnification  for  liabilities  arising  under  the
Securities Act may be permitted to directors,  officers and controlling  persons
of the  Registrant  pursuant to the  foregoing  provisions,  or  otherwise,  the
Registrant  has  been  advised  that  in  the  opinion  of the  Commission  such
indemnification  is against public policy as expressed in the Securities Act and
is,  therefore,  unenforceable.  In the event  that a claim for  indemnification
against  liabilities  (other  than the  payment by the  Registrant  of  expenses
incurred or paid by a director,  officer or controlling person of the Registrant
in the successful defense of any action, suit or proceeding) is asserted by such
director,  officer or controlling person in connection with the securities being
registered, the Registrant will, unless in the opinion of its counsel the matter
has been  settled by  controlling  precedent,  submit to a court of  appropriate
jurisdiction the questions whether such  indemnification by it is against public
policy as  expressed  in the  Securities  Act and will be  governed by the final
adjudication of such issue.

                                       6
SIGNATURES

         Pursuant  to the  requirements  of the  Securities  Act  of  1933,  the
Registrant certifies that it has reasonable grounds to believe that it meets all
of the requirements for filing on Form S-8 and has duly caused this registration
statement  to be  signed  on its  behalf  by  the  undersigned,  thereunto  duly
authorized,  in the city of Pittsburgh,  Commonwealth of  Pennsylvania,  on this
24th day of November 2008.

                                    WVS FINANCIAL CORP.

                                    By:    /s/ David J. Bursic
                                           -------------------------------------
                                           David J. Bursic
                                           President and Chief Executive Officer

         Pursuant  to the  requirements  of the  Securities  Act of  1933,  this
registration  statement  has  been  signed  by  the  following  persons  in  the
capacities and on the dates indicated. Each person whose signature appears below
hereby  makes,  constitutes  and  appoints  David J.  Bursic his or her true and
lawful  attorney,  with full power to sign for such person and in such  person's
name and capacity  indicated  below, and with full power of substitution any and
all amendments to this registration  statement,  hereby ratifying and confirming
such  person's  signature  as it may be signed by said  attorney  to any and all
amendments.
Name                  Title                                  Date
---------------------------     ----------------------------------     -----------------
/s/ David J. Bursic             Director, President and Chief          November 24, 2008
---------------------------     Executive Officer (principal
David J. Bursic                 executive officer)

/s/Jonathan D. Hoover           Director, Senior Vice President -      November 24, 2008
---------------------------     Operations
Jonathan D. Hoover

/s/ Keith A. Simpson            Vice President, Treasurer and          November 24, 2008
---------------------------     Chief Financial Officer (principal
Keith A. Simpson                financial and accounting officer)

/s/ David L. Aeberli            Chairman of the Board                  November 24, 2008
---------------------------
David L. Aeberli

                                       7
Name                  Title                                  Date
---------------------------     ----------------------------------     -----------------
/s/ John W. Grace               Director                               November 24, 2008
---------------------------
John W. Grace

/s/ Lawrence M. Lehman          Director                               November 24, 2008
---------------------------
Lawrence M. Lehman

/s/ Margaret VonDerau           Director                               November 24, 2008
---------------------------
Margaret VonDerau
8