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Mallory Brown

What is a Federal Savings and Loan (S&L) and How Does It Work?

What is a Federal Savings and Loan (S&L) and How Does It Work?

Community-based, federally chartered institutions account for the bulk of savings and loans in the United States. They are owned and controlled by their customers, not investors, unlike conventional banks. They specialize in residential loans, mortgages, and loans, as well as the most savings and basic banking products such as savings and …

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