Savings And Loan Association

A savings and loan association, often called an S&L or simply a thrift, is a financial institution that specializes in accepting savings deposits and making mortgage loans. An S&L may also offer other banking services, such as checking accounts and personal loans. The primary difference between an S&L and a bank is that the former accepts deposits and makes loans, while the latter focuses on investment banking activities such as underwriting and issuing securities.

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