Meaning of the word "savings and loan association" in English
What does "savings and loan association" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.
savings and loan association
US /ˈseɪvɪŋz ənd ˈloʊn əˌsoʊsiˈeɪʃən/
UK /ˈseɪvɪŋz ənd ˈloʊn əˌsoʊsiˈeɪʃən/
Noun
1.
a financial institution that accepts savings deposits and makes mortgage loans
Example:
•
The local savings and loan association offered competitive rates on home mortgages.
•
Many savings and loan associations faced financial difficulties in the 1980s.
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