What exactly is a federal Savings and you will Financing (S&L)?
The definition of federal deals and you will mortgage (S&L) makes reference to a lender that centers around providing checking and offers membership, money, and you can home-based mortgages so you can consumers. This type of organizations are also known as thrifts-borrowing from the bank unions and you can savings finance companies which might be collectively owned by their people. Therefore, all these companies are people-depending and myself possessed, however some can also be in public-exchanged.
The definition of trustee coupons lender is used in the uk exactly the same way government offers and you can financing is employed throughout the All of us.