A savings and loan association is a financial institution that specializes in savings accounts and mortgage loans. A typical Savings and Loan Association is often mutually held by its members. This means that members have voting rights and thus have the ability to direct the goals of the Savings and Loan Association. But since the Savings and Loan Scandal during the 1980’s, most Savings and Loan Associations are stock based and look and feel like banks or credit unions. Therefore we have listed all the currently operation Savings and Loan Associations as Banks.