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BRIEFLY DESCRIBE WHY AND WHEN THRIFT INSTITUTIONS WERE FOUNDED

BRIEFLY DESCRIBE WHY AND WHEN THRIFT INSTITUTIONS WERE FOUNDED

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Answer #1

Thrift institution where founded first in 1810 in United Kingdom.

Thrift institutions were founded because-

A.these were primarily offering saving account facilities and then these also ventured into home loans.

B.these are also known as savings and loan associations and they have very similar characteristics of that of a commercial banks

C. These can be Corporate entities or they could be mutually owned also

D.this provides with the secured option for the depositors for saving their money for the shorter as well as the longer period of time.

E. These are also structured for promotion of the home ownership among individuals.

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