savings and loan association

noun
UK: /ˈseɪvɪŋz ənd ləʊn əˌsəʊsiˈeɪʃən/
US: /ˈseɪvɪŋz ənd loʊn əˌsoʊsiˈeɪʃən/

  1. A financial institution that accepts savings deposits and provides home loans.

    1. My parents used a savings and loan association to buy their first home.
    2. The savings and loan association offered a competitive interest rate on our mortgage.

Synonyms

building society

Frequently Asked Questions

The phonetic transcription of "savings and loan association" is /ˈseɪvɪŋz ənd ləʊn əˌsəʊsiˈeɪʃən/ in British English and /ˈseɪvɪŋz ənd loʊn əˌsoʊsiˈeɪʃən/ in American English. Click the 🔊 button to hear both pronunciations.

Synonyms for "savings and loan association": building society.

Example usage of "savings and loan association": "My parents used a savings and loan association to buy their first home.". More examples on the page.