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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

See savings and loan association defined for English-language learners

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Recent Examples of savings and loan association from the Web

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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SAVINGS AND LOAN ASSOCIATION Defined for English Language Learners

savings and loan association

noun

Definition of savings and loan association for English Language Learners

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

Law 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

Learn More about savings and loan association

  1. Britannica.com: Encyclopedia article about savings and loan association

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