What is a savings and loan institution?

Answer As their name implies, savings and loan institutions serve two central purposes. On one hand, they offer consumers a safe place to save their money and earn interest on it. On the other hand, they ... Read More »

Top Q&A For: What is a savings and loan institution

What Is a Savings & Loan Association?

A savings and loan association, also known as a thrift bank, is a financial institution specializing in accepting savings deposits and originating mortgage loans.

Why were savings&loan associations created?

Savings and loan associations are similar to commercial banks, in that they both accept deposits and make loans. However, savings and loan associations are mandated to focus more on residential len... Read More »

Where is the World Savings& Loan Bank?

The World Savings & Loan Bank is no longer operational. The bank was bought by Wachovia in 2006, and Wachovia was later sold to Wells Fargo. World Savings made headlines for questionable mortgage l... Read More »

What is the difference between a commercial bank and a savings&loan bank?

Both a commercial bank and a savings and loan accept deposits. But they differ in terms of the loans they primarily make and in what institutions regulate their operation.GovernanceA savings and lo... Read More »