Savings and Loan Institutions, often called S&Ls, are financial organizations that primarily focus on accepting deposits and providing loans, particularly for purchasing homes. They offer savings accounts and certificates of deposit, allowing customers to earn interest on their deposits. S&Ls are designed to promote home ownership and often provide lower interest rates on mortgages compared to other lenders. These institutions are regulated by the federal government to ensure safety and soundness. They play a crucial role in the economy by facilitating access to credit for individuals and families, helping them achieve their dreams of home ownership while also contributing to local community development.