savings and loan association

US /ˈseɪvɪŋz ənd ˈloʊn əˌsoʊsiˈeɪʃən/
UK /ˈseɪvɪŋz ənd ˈloʊn əˌsoʊsiˈeɪʃən/
"savings and loan association" picture
1.

a financial institution that accepts savings deposits and makes mortgage loans

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The local savings and loan association offered competitive rates on home mortgages.
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Many savings and loan associations faced financial difficulties in the 1980s.
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S&Lthrift institutionbuilding society (UK)
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