Logo
dictionary thesaurus

savings and loan association

noun

Definition of savings and loan association

: a cooperative association organized to hold savings of members in the form of dividend-bearing shares and to invest chiefly in home mortgage loans

— called also savings and loan

Examples of savings and loan association in a Sentence

Recent Examples on the Web

 According to The Washington Post, James McDougal engaged in fraudulent activity with a small savings and loan association, as well as a small business investment firm, which cost taxpayers $73 million. — Danielle Corcione, Teen Vogue, "President Bill Clinton's Impeachment and Ties to Monica Lewinsky, Explained," 19 Jan. 2018

First Known Use of savings and loan association

1887, in the meaning defined above

Keep scrolling for more

Keep scrolling for more

More Definitions for savings and loan association

savings and loan association

noun

English Language Learners Definition of savings and loan association

US : a business that is like a bank and that holds and invests the money saved by its members and makes loans to home buyers

See the full definition for savings and loan association in the English Language Learners Dictionary

savings and loan association

noun
sav·​ings and loan association

Legal Definition of savings and loan association

: a cooperative association organized to hold savings of members in the form of dividend-bearing shares and to invest chiefly in home mortgage loans

WORD OF THE DAY

sumptuous

play

See Definitions and Examples

Get Word of the Day daily email!