The recent sub-prime mortgage crisis has created a renewed interest in the American savings and loan industry. Modelled on British building societies, savings and loans were cooperative businesses from which their members could borrow long-term mortgages. The popularity of this method of home finance led to the rapid expansion of the industry, and by the end of the nineteenth century more than 5,000 saving and loans were in operation around the country. Despite the long history of the industry and its relevance to recent events, only limited material has been made available to researchers....
The recent sub-prime mortgage crisis has created a renewed interest in the American savings and loan industry. Modelled on British building societies,...
