Savings Deposits Hit 2-Year High

America’s savings and loans and savings banks took in $3.6 billion worth of new deposits in July, the biggest increase in over two years, the Federal Home Loan Bank Board said today.

The increase marks only the second time in the last 11 months that more people put money into thrifts than took it out, the Bank Board said in its monthly report on thrift institution activity. In June, withdrawals beat deposits by $2.8 billion.