savings and loan association
sav·ings and loan association n: a cooperative association organized to hold savings of members in the form of dividend-bearing shares and to invest chiefly in home mortgage loans

Merriam-Webster’s Dictionary of Law. . 1996.

savings and loan association
n.
A mutually owned cooperative institution that exists primarily to make loans to members, particularly for the purchase of real estate, and to provide members with savings accounts, but that may offer other banking services.

The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. . 2008.


savings and loan association
A financial institution owned by and operated for the benefit of those using its services. The savings and loan association's primary purpose is making loans to its members, usually for the purchase of real estate or homes.

Dictionary from West's Encyclopedia of American Law. 2005.


savings and loan association
A financial institution owned by and operated for the benefit of those using its services. The savings and loan association's primary purpose is making loans to its members, usually for the purchase of real estate or homes.

Short Dictionary of (mostly American) Legal Terms and Abbreviations.

Look at other dictionaries:

  • savings and loan association — ☆ savings and loan association n. a depositor owned organization that solicits savings to be placed in saving accounts or in share accounts, on which interest or dividends are paid, and from which mortgage loans on homes or real estate are made …   English World dictionary

  • Savings and loan association — A savings and loan association, also known as a thrift, is a financial institution that specializes in accepting savings deposits and making mortgage loans. The term is mainly used in the United States; similar institutions in the United Kingdom …   Wikipedia

  • savings and loan association — noun a thrift institution that is required by law to make a certain percentage of its loans as home mortgages • Syn: ↑savings and loan • Hypernyms: ↑thrift institution • Hyponyms: ↑building society * * * noun : a cooperative association …   Useful english dictionary

  • savings and loan association — a cooperative savings institution, chartered and regulated by a state or the federal government, that receives deposits in exchange for shares of ownership and invests its funds chiefly in loans secured by first mortgages on homes. Also called… …   Universalium

  • Savings and Loan association — National or state chartered institution that accepts savings deposits and invests the bulk of the funds thus received in mortgages. The New York Times Financial Glossary * * * Savings and Loan Association ˌSavings and ˈLoan Associˌation also… …   Financial and business terms

  • savings and loan association — National or state chartered institution that accepts savings deposits and invests the bulk of the funds thus received in mortgages. Bloomberg Financial Dictionary * * * Savings and Loan Association ˌSavings and ˈLoan Associˌation also ˌsavings… …   Financial and business terms

  • savings and loan association — One of a number of types of mutually owned, cooperative, savings associations, originally established for the primary purpose of making loans to members and others, usually for the purchase of real estate or homes; though in the 1980 s S & L s… …   Black's law dictionary

  • savings and loan association — UK / US noun [countable] Word forms savings and loan association : singular savings and loan association plural savings and loan associations American a building society …   English dictionary

  • savings and loan association — savings and loan associ,ation noun count AMERICAN * a company that you have a savings account with and that lends you money for a mortgage when you want to buy a house …   Usage of the words and phrases in modern English

  • savings and loan association — noun Date: 1884 a cooperative association organized to hold savings of members in the form of dividend bearing shares and to invest chiefly in home mortgage loans called also savings and loan …   New Collegiate Dictionary

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