Meaning of the word "building society" in English
What does "building society" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.
building society
US /ˈbɪl.dɪŋ səˌsaɪ.ə.t̬i/
UK /ˈbɪl.dɪŋ səˌsaɪ.ə.ti/
Noun
a financial organization which pays interest on investments of its members and lends money for the purchase or renovation of houses
Example:
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We decided to take out a mortgage with a local building society.
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Many building societies have converted into banks in recent years.