What exactly is a national Discounts and you can Mortgage (S&L)?

The term federal discounts and you may mortgage (S&L) identifies a financial institution that centers on getting examining and you will offers account, fund, and domestic mortgages in order to customers. This type of associations also are referred to as thrifts-borrowing from the bank unions and you can coupons banks that are collectively owned by its customers. As a result, a few of these companies are people-oriented and you will individually had, however some may also be in public places-traded.

The phrase trustee deals bank is utilized in the united kingdom the same exact way government savings and you will financing is utilized about United states. (more…)