Federal Savings and Loan Associations are federally chartered institutions with a primary responsibility to accept people's savings deposits and provide mortgage loans for residential housing. Their role and scope were broadened by the Depository Institutions Deregulation and Monetary Control Act of 1980. Accounts are insured up to $250,000 by the FDIC.
Savings and Loan Associations (S&Ls) are financial institutions that specialize in accepting savings deposits and making mortgage and other loans.
Savings and Loan Association (S&L) is a type of financial institution that specializes in accepting savings deposits and making mortgage loans.
