Savings and loan association (S&L)
Corporation that traditionally offered savings accounts with interest rates higher than banks. Since deregulation, an S&L offers both checking and savings accounts but still uses the majority of funds to finance home mortgages. Along with savings banks, sometimes called a thrift.
Category: Banking & Finance
Previous: ← Safety need
Next: Savings banks →
More from this Section
- Anticipated Income Theory
Anticipated income theory developed in 1945 by H. V Prochnow and presented on his book ... - LIFO Liquidation
LIFO Liquidation is the process of selling older goods or commodities in a company's products ... - Certificate of Inspection
Certificate of Inspection is a document certifying the quality, quantity and/or price ... - Value Creation
Value Creation is the difference between the value of an investment and the amount of ... - Annuities
In addition to receiving the face value of a bond at maturity, an investor also receives ...