UNITED STATES
                       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


Date of Report (Date of earliest event reported)         October 28, 2008
                                                 -------------------------------


                               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 File Number)          (IRS Employer
 jurisdiction of incorporation)                              Identification No.)


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


                                 (412) 364-1913
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              (Registrant's telephone number, including area code)



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

Check  the  appropriate  box  below  if the  Form  8-K  filing  is  intended  to
simultaneously  satisfy  the  obligation  of  the  registrant  under  any of the
following provisions (see General Instruction A.2. below):

[_]   Written  communications  pursuant to Rule 425 under the Securities Act (17
      CFR 230.425)

[_]   Soliciting  material  pursuant to Rule 14a-12  under  Exchange Act (17 CFR
      240.14a-12)

[_]   Pre-commencement  communications  pursuant  to  Rule  14d-2(b)  under  the
      Exchange Act (17 CFR 240.14d-2(b))

[_]   Pre-commencement  communications  pursuant  to  Rule  13e-4(c)  under  the
      Exchange Act (17 CFR 240.13e-4(c))


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Item 5.02         Departure  of  Directors  or  Certain   Officers;  Election of
                  --------------------------------------------------------------
                  Directors;   Appointment  of  Certain  Officers;  Compensatory
                  --------------------------------------------------------------
                  Arrangements of Certain Officers.
                  ---------------------------------

         (a)-(d) Not applicable.

         (e) At the Annual  Meeting of  Stockholders  on October 28,  2008,  the
stockholders of WVS Financial  Corp. (the "Company")  approved the WVS Financial
Corp. 2008 Stock Incentive Plan (the "Plan"). The Plan provides for the issuance
of up to 152,000 shares of common stock of the Company  pursuant to the grant of
incentive stock options  intended to comply with the requirements of Section 422
of the Internal Revenue Code, non-incentive or compensatory stock options, stock
appreciation   rights  and  share  awards  of  restricted  stock   (collectively
"Awards").  Awards will be available  for grant to officers,  key  employees and
non-employee directors of the Company and any subsidiaries.

         The  description  of the Plan is  qualified by reference to the Plan, a
copy of which is included as Exhibit 10.1 to this Current Report on Form 8-K.

         (f)      Not applicable.

Item 9.01         Financial Statements and Exhibits
                  ---------------------------------

         (a)      Not applicable.

         (b)      Not applicable.

         (c)      Not applicable

         (d)      The following exhibits are included with this Report:


         Exhibit No.       Description
         -----------       -----------

         10.1              WVS Financial Corp. 2008 Stock Incentive Plan(1)

------
(1)      Incorporated  by reference to the definitive  proxy  statement filed by
         WVS Financial  Corp.  with the Commission on September 26, 2008 for the
         Annual Meeting of Stockholders held on October 28, 2008.



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<PAGE>


                                   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.


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


Date:  October 29, 2008






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