What exactly is a national Coupons and Mortgage (S&L)?

What exactly is a national Coupons and Mortgage (S&L)?

The term government savings and loan (S&L) identifies a loan company you to centers around delivering checking and discounts membership, fund, and you will residential mortgage loans to help you consumers. These establishments are known as thrifts-borrowing from the bank unions and coupons banking companies that are mutually owned by the users. As such, most of these businesses are community-mainly based and you may myself had, even though some can also be in public places-replaced.

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