Explanation:
A Savings and Loan Association (S&L), or thrift service, is a financial institution specialized in taking savings deposits and making mortgages and other loans. A savings and loan company (S&L) has today been one of the main sources of home buyers ' mortgage loans.
In the specified example, Helmert Federal acquires its funds mainly from its customers ' deposits, and then uses those funds to make individuals ' mortgage loans is a form of savings and loan association.
