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27 May, 07:19

Helmert Federal, a financial institution, acquires its funds primarily from the deposits of its customers, and then uses these funds to make mortgage loans to individuals. Helmert Federal is a (n)

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  1. 27 May, 07:27
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    Helmert Federal is a savings and loan association

    Explanation:

    A Savings and Loan Association (S&L), or thrift service, is a financial institution specialized in taking savings deposits and making mortgages and other loans. A savings and loan company (S&L) has today been one of the main sources of home buyers ' mortgage loans.

    In the specified example, Helmert Federal acquires its funds mainly from its customers ' deposits, and then uses those funds to make individuals ' mortgage loans is a form of savings and loan association.
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