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(TRUE or FALSE) Savings and Loan Associations (also called S&L's) are nonprofit, member-owned financial cooperatives that...

(TRUE or FALSE) Savings and Loan Associations (also called S&L's) are nonprofit, member-owned financial cooperatives that offer the full variety of banking services to their members.

a.

TRUE

 b.

FALSE
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Answer #1

TRUE.

Savings and Loan Associations are non profits and they also give similar services like Banking Institutions, like accounts Openings Lending Loan & Mortgages, but to the members only. They also give better services than the Banks. They charge high interest though.

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