Savings and loans are financial institutions that accept savings and use them to fund long-term mortgages for home buyers.

Question

Quizplus · Accepted Answer

This statement accurately describes savings and loans, also known as thrift institutions or savings and loan associations. These institutions have a primary function of accepting deposits from customers, which are then used to fund mortgages and other types of loans.

Savings and Loans Are Financial Institutions That Accept Savings and Use