savings and loan association

glossary / savings-and-loan association
A financial institution — often organized and chartered like a bank — that primarily makes home-mortgage loans but also usu. maintains checking accounts and provides other banking services. — Often shortened to S & L.

— Also termed loan association; thrift institution; thrift. Cf. BUILDING-AND-LOAN ASSOCIATION. [Cases: Building and Loan Associations 1, 24–40. C.J.S. Building and Loan Associations, Savings and Loan Associations, and Credit Unions §§ 2–4, 11, 18–19, 66–113, 115.]

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savings and loan association

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savings and loan association 〈美〉储蓄与贷款协会 由联邦或州政府特许成立的、具有互助合作性质的半官方金融机构。协会以记名股票的方式吸收会员存款，形成为全体会员所共有的互助合作基金，用于向会员和公众发放分期摊还的抵押贷款。每一会员被赋以同等的权利和义务，定期认缴存款或股金，并在需要时申请抵押贷款。早先成立的储蓄与贷款协会的业务集中于为会员建造住房和购买住房融通资金，后来其业务又扩展到商业性借贷和其他无抵押担保的贷款。常简写为「S & L」,亦称作「loan association」；「thrift institution」；「thrift」。

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