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What is a federal Offers and you will Financing (S&L)?

What is a federal Offers and you will Financing (S&L)?

The term government offers and you can loan (S&L) refers to a financial institution you to definitely centers on delivering checking and you can discounts accounts, money, and you can domestic mortgages to consumers. Such institutions also are also known as thrifts-borrowing from the bank unions and coupons financial institutions that will be collectively owned by its customers.

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