What is a key function of a savings and loan association?

A savings and loan association primarily focuses on providing financial services that support home ownership objectives, making the financing of mortgages its key function. These institutions were historically established to encourage savings and provide a reliable source of loans for members of a community, particularly for the purpose of purchasing homes.

By offering mortgages, savings and loans facilitate access to home buying, enabling more individuals to secure financing for real estate purchases. This role is vital in the context of the housing market, as it contributes to overall economic growth and stability by supporting home ownership rates.

The other options do not align with the primary function of savings and loan associations. While they may engage in various activities, such as offering personal loans, they do not primarily specialize in them as a core service. Likewise, international banking operations are typically the domain of larger commercial banks and are not a focus for savings and loan associations, which concentrate more on serving local or community-based financial needs.