savings and loan association Meaning in the Cambridge English Dictionary Cambridge dictionaries logo

Meaning of “savings and loan association” in the English Dictionary

"savings and loan association" in British English

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savings and loan associationnoun [C]

uk   us   US (UK building society)
a ​business that ​lends you ​money if you ​want to ​buy a ​house, or ​pays you ​interest on ​money you invest there
(Definition of savings and loan association from the Cambridge Advanced Learner’s Dictionary & Thesaurus © Cambridge University Press)

"savings and loan association" in Business English

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savings and loan associationnoun [C]

uk   us   (also savings and loan, abbreviation S & L) FINANCE, BANKING
in the US, an ​organization similar to a ​bank that ​providesfinancialservicesincludingsavingsaccounts and mortgages: As a village ​savings and ​loanassociation, the ​group gathers the ​savings of ​members and ​lends them to the ​members.
(Definition of savings and loan association from the Cambridge Business English Dictionary © Cambridge University Press)
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