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savings and loan association

   Also found in: Legal, Financial, Encyclopedia, Wikipedia, Hutchinson 0.01 sec.
savings and loan association
n. Abbr. S & L
A financial institution, organized cooperatively or corporately, that holds the funds of its members or clients in interest-bearing accounts and certificates of deposit, invests these funds chiefly in home mortgage loans and may also offer checking accounts and other banking services.
savings and loan association
n
(Economics, Accounting & Finance / Banking & Finance) a US name for a building society
ThesaurusLegend:  Synonyms Related Words Antonyms
Noun1.savings and loan association - a thrift institution that is required by law to make a certain percentage of its loans as home mortgages
savings and loan
thrift institution - a depository financial institution intended to encourage personal savings and home buying
building society - British equivalent of United States savings and loan association


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