savings and loan association


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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
(Banking & Finance) a US name for a building society

sav′ings and loan′ associa`tion


n.
a government-regulated savings institution in which deposits are exchanged for shares of ownership and funds are invested chiefly in home mortgages.
ThesaurusAntonymsRelated WordsSynonymsLegend:
Noun1.savings and loan association - a thrift institution that is required by law to make a certain percentage of its loans as home mortgages
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
References in periodicals archive ?
Enfield Federal Savings and Loan Association operates eight banking centers serving the communities of Enfield, Ellington, Manchester, Suffield, East Windsor and Windsor Locks, Connecticut.
Jacksonville is a Texas chartered savings and loan association that conducts business through five full-service offices located in Jacksonville, Longview, Palestine, Tyler and Athens, Texas as well as a savings office in Rusk, Texas.
13 /PRNewswire/ -- New Horizons Savings and Loan Association (Nasdaq: NHSL) announced today that they have not been able to reach a definitive agreement to merge with Luther Burbank Savings because Luther Burbank was unable to secure a commitment for the financing of the acquisition.
Enfield Federal Savings and Loan Association, the subsidiary of New England Bancshares, Inc.
Nasdaq: WCBI), the holding company for First Federal Savings and Loan Association of Westchester, Westchester, Ill.
27 /PRNewswire/ -- Third Federal Savings and Loan Association of Cleveland announced today the grand opening of their new headquarters at 7007 Broadway Ave.
will acquire the banking business of Boone National Savings and Loan Association.
Metropolitan Savings is a FDIC-insured, federally chartered savings and loan association organized in 1935.
15 /PRNewswire/ -- Jacksonville Savings and Loan Association (Nasdaq: JXVL) announced today that its Board of Directors at their meeting on September 13, 1994, adopts a cash dividend policy and declared a cash dividend of $0.
Jacksonville converted from a Texas chartered mutual savings and loan association to a Texas chartered stock savings and loan effective March 31, 1994.
Lynch, President and Chief Executive Officer, advised the Board that he will retire, effective July 1, 1994, as President of the Company and as President and Chief Executive Officer of its wholly owned subsidiary, First Federal Savings and Loan Association of the Palm Beaches.
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