savings and loan association

Definition of "savings and loan association"
  1. A group created with the purpose of collectively gathering members' savings in shares that earn dividends, and using these primarily to finance home mortgages
How to use "savings and loan association" in a sentence
  1. The savings and loan association provided a means for the community to secure mortgages.
  2. John decided to put his savings in a savings and loan association to help others acquire home loans.
  3. Savings and loan associations play a crucial role in boosting home ownership by offering mortgage loans.

Provide Feedback
Browse Our Legal Dictionary
# A B C D E F G H I J K L M N O P Q R S T U V W X Y Z