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

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'savings and loan association.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

First Known Use of savings and loan association

1887, in the meaning defined above

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Time Traveler for savings and loan association

The first known use of savings and loan association was in 1887

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More Definitions for savings and loan association

savings and loan association

noun

English Language Learners Definition of savings and loan association

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

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

More from Merriam-Webster on savings and loan association

Britannica.com: Encyclopedia article about savings and loan association

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