thrift institution

Noun
  1. is a type of: bank, banking company, banking concern, depository financial institution - a financial institution that accepts deposits and channels the money into lending activities
    subtypes:
    • savings and loan, savings and loan association - a thrift institution that is required by law to make a certain percentage of its loans as home mortgages
    • savings bank - a thrift institution in the northeastern United States; since deregulation in the 1980s they offer services competitive with many commercial banks

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