BUILDING-AND-LOAN ASSOCIATION

building-and-loan association. A quasi-public corporation that accumulates funds through member contributions and lends money to the members buying or building homes. Cf. SAVINGS-AND-LOAN ASSOCIATION. [Cases: Building and Loan Associations 1, 24–37. C.J.S. Building and Loan Associations, Savings and Loan Associations, and Credit Unions §§ 2–4, 11, 18–19, 66–67, 69, 71–74, 77–100, 109–113, 115.]