The early savings and loans were managed and directed by their depositors with large depositors often having greater influence in the directing of the activities of the association.

Question

Quizplus · Accepted Answer

Early savings and loan associations were indeed managed and directed by their depositors, with those holding larger deposits typically having more influence over the direction and activities of the association. This structure was reflective of their mutual origins, where members' interests were directly tied to the institution's performance and decisions.

The Early Savings and Loans Were Managed and Directed by Their