savings and loan association

noun

: 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

Examples of savings and loan association in a Sentence

Recent Examples on the Web
Examples are automatically compiled from online sources to show current usage. Read More Opinions expressed in the examples do not represent those of Merriam-Webster or its editors. Send us feedback.
In 1982, James McDougal purchased a savings and loan association in Arkansas that later collapsed from bad loans, the Washington Post reported. — Sudiksha Kochi, USA TODAY, 21 Apr. 2023 But in the 1980s, hundreds of the small banks known as savings and loan associations failed. — Rodney Ramcharan, Fortune, 30 Mar. 2023

Word History

First Known Use

1887, in the meaning defined above

Time Traveler
The first known use of savings and loan association was in 1887

Rhymes for savings and loan association

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Browse Nearby Words

savings account
savings and loan association
savings bank
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Cite this Entry

“Savings and loan association.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/savings%20and%20loan%20association. Accessed 30 Mar. 2025.

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Kids Definition

savings and loan association

noun
: an association organized to hold savings of members and to invest chiefly in mortgage loans

Legal Definition

savings and loan association

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

More from Merriam-Webster on savings and loan association

Britannica.com: Encyclopedia article about savings and loan association

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