Complex sentence: A thrift institution is a financial institution that obtains the majority of its funds from the savings of the public; savings and loan association (S&Ls) and savings banks, are the types of thrift institutions.
Split into simpler sentences: A thrift institution is a financial institution that obtains the majority of its funds from the savings of the public. Savings and loan association (S&Ls) and savings banks, are the types of thrift institutions.