Savings and loan associations are sometimes known as

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Savings and loan associations are also referred to as thrift institutions because they traditionally focused on providing savings accounts and mortgages to individuals and families. While credit unions are similar in structure, they typically serve a specific group of individuals (such as employees of a company or members of a certain organization) and are nonprofit. Nonbanks and bankers' banks refer to other types of financial institutions.

Savings and Loan Associations Are Sometimes Known as