savings and loan association
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
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1887
First Known Use of savings and loan association
1887
SAVINGS AND LOAN ASSOCIATION Defined for English Language Learners
savings and loan association
Definition of savings and loan association for English Language Learners
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: 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
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
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Britannica.com: Encyclopedia article about savings and loan association
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