The word government deals and you may loan (S&L) means a lending institution one to targets delivering checking and you may deals levels, fund, and you will home-based mortgage loans so you can customers. Such associations are also also known as thrifts-borrowing from the bank unions and savings banks which might be collectively belonging to their users. As such, all these companies are community-situated and you can truly owned, though some can certainly be publicly-traded.
The phrase trustee savings bank is employed in the uk the same exact way government savings and loan can be used about Us.