savings and loans

Savings and loans institutions, often called S&Ls or thrifts, are financial organizations that primarily accept deposits from members and use those funds to provide mortgage loans for homebuyers. They focus on helping individuals secure financing for their homes, offering savings accounts and other deposit products. Unlike large commercial banks, savings and loans specialize in residential real estate lending, making it easier for people to buy homes by providing accessible, community-focused financial services. Their role is vital in supporting homeownership and local economies through targeted lending and savings options.