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How's a Savings and Loan different?

grillandwinemaster
Valued Contributor

How's a Savings and Loan different?

I know the difference between a bank and a credit union. Can someone explain what a Savings and Loan from the 1980's is our was? 

 

Thanks, just curious...


Current Scores 3/2016 Equifax 676 Transunion 697 Experian 648 Goal Scores: 720's accross the board. Gardening Goal: 3/2017
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2 REPLIES 2
CreditGuyInDixie
Super Contributor

Re: How's a Savings and Loan different?

Both of these struck me as helpful:

 

http://www.investopedia.com/ask/answers/041015/what-difference-between-savings-loan-company-and-bank...

 

https://en.wikipedia.org/wiki/Savings_and_loan_association

 

The wikipedia piece has an interesting discussion of the history of the S&L from well before the S&L crisis of the 80s, through the crisis, and then up through the present day.

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grillandwinemaster
Valued Contributor

Re: How's a Savings and Loan different?

Both are interesting articles.  Seems like the major differences Are the various freedoms and liberties that each Are allowed to take.  

 

Ownership Seems like a hybrid of credit unions and regular Banks.  

 

Thanks for the articles Credit Guy


Current Scores 3/2016 Equifax 676 Transunion 697 Experian 648 Goal Scores: 720's accross the board. Gardening Goal: 3/2017
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