Prompt: A thrift is by definition a depository institution that specializes in mortgage lending. The thrift industry consists of savings banks and savings and loan associations. Credit unions are nonprofit entities composed of members with common affiliation among the members. There is a significant difference in the types of ownership of savings institutions. Discuss the two types of thrift ownership and the ownership of credit unions.

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Lets delve deeper into the ownership structures of thrifts and credit unions 1 Thrifts a Savings Banks Ownership Owned by stockholders similar to comm... View the full answer