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savings and loan association
5 dictionary results for: Savings and loan association
Dictionary.com Unabridged (v 1.1) - Cite This Source - Share This
savings and loan association
–noun
| 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. |
Dictionary.com Unabridged (v 1.1)
Based on the Random House Unabridged Dictionary, © Random House, Inc. 2006.
Based on the Random House Unabridged Dictionary, © Random House, Inc. 2006.
American Heritage Dictionary - Cite This Source - Share This
| savings and loan association
n. Abbr. S & L A financial institution, organized cooperatively or corporately, that holds the funds of its members or clients in interest-bearing accounts and certificates of deposit, invests these funds chiefly in home mortgage loans and may also offer checking accounts and other banking services. |
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The American Heritage® Dictionary of the English Language, Fourth Edition
Copyright © 2006 by Houghton Mifflin Company.
Published by Houghton Mifflin Company. All rights reserved.
The American Heritage® Dictionary of the English Language, Fourth Edition
Copyright © 2006 by Houghton Mifflin Company.
Published by Houghton Mifflin Company. All rights reserved.
WordNet - Cite This Source - Share This
| 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] |
WordNet® 3.0, © 2006 by Princeton University.
American Heritage New Dictionary of Cultural Literacy, Third Edition - Cite This Source - Share This
savings and loan association
savings and loan association
A financial institution that resembles a bank but that historically did not offer services such as personal checking accounts and that invested capital mainly in home mortgages. In the late 1970s, Congress passed legislation freeing savings and loan associations (often called S&Ls) from their traditional dependency on home mortgage loans. In response, S&Ls invested their capital, often unwisely, in a range of enterprises, especially real estate. In the late 1980s, hundreds of S&Ls went bankrupt, leaving the federal government, which insured the accounts of depositors, with an enormous bill. Since then they have been subject to tighter regulation.
The American Heritage® New Dictionary of Cultural Literacy, Third Edition
Copyright © 2005 by Houghton Mifflin Company.
Published by Houghton Mifflin Company. All rights reserved.
Copyright © 2005 by Houghton Mifflin Company.
Published by Houghton Mifflin Company. All rights reserved.
Merriam-Webster's Dictionary of Law - Cite This Source - Share This
Main Entry: sav·ings and loan association
Function: 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
Main Entry: sav·ings and loan association
Function: 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
Merriam-Webster's Dictionary of Law, © 1996 Merriam-Webster, Inc.
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