thrift institution

Definition

A financial institution that holds deposits for individuals. Compare to Investment Bank.

Use thrift institution in a sentence

An institution whose main objective and purpose it to keep money for its members who have interests in transacting with the organization is called a thrift institution

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A financial institution formed primarily to accept consumer deposits and make home mortgages, the primary types of thrift institutions are mutual banks, savings and loan associations, and credit unions.

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Thrift institutions are a great form of cooperative banking, similar to investment banks, that uses money from the public as funds to provide services to public and private entities.

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