Savings and loan association

 

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Savings And Loan Association

Originally an association chartered to hold savings and make real estate loans. Federally insured and regulated. Active in long term financing rather than construction loans. Recent changes in federal controls have enabled these associations to offer checking accounts, consumer loans, and other services traditionally offered by banks.

Savings and loan association

In the US, a financial institution in which depositors' savings are used to provide home mortgages loans.

Savings and loan association

National- or state-chartered institution that accepts savings deposits and invests the bulk of the funds thus received in mortgages.



Savings and loan association

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