Savings And Loan Association

Pronunciation: /ˈseɪvɪŋz ænd loʊn əˌsoʊsiˈeɪʃən/

Definitions of savings and loan association

noun a financial institution that accepts savings deposits and makes mortgage loans

Example Sentences

A1 I opened a savings and loan association account to save money for my future.

A2 My parents used a savings and loan association to get a loan for our new house.

B1 The savings and loan association offers competitive interest rates for their savings accounts.

B2 Many people in the community rely on the savings and loan association for financial assistance.

C1 The government implemented regulations to protect consumers from risky practices by savings and loan associations.

C2 The savings and loan association faced scrutiny after allegations of fraud and mismanagement.

Examples of savings and loan association in a Sentence

formal The savings and loan association offers competitive interest rates for depositors.

informal I opened a savings account at the savings and loan association down the street.

slang I'm thinking of stashing my cash in the savings and loan association instead of a big bank.

figurative Joining the savings and loan association felt like joining a community of savers and borrowers.

Grammatical Forms of savings and loan association

• plural: savings and loan associations
• present tense: savings and loan association
• future tense: will be savings and loan association
• perfect tense: have been savings and loan association
• continuous tense: are savings and loan association
• singular: savings and loan association
• positive degree: savings and loan association
• infinitive: to save and loan association
• gerund: saving and loan association
• participle: savings and loan association

Origin and Evolution of savings and loan association

First Known Use: 1831 year

Language of Origin: English

Story behind the word: The concept of savings and loan associations originated in Europe during the 19th century.

Evolution of the word: The term 'savings and loan association' evolved from the traditional practice of individuals pooling their savings to provide loans to community members in need. Over time, these associations became formalized institutions that accepted deposits from savers and provided mortgage loans to borrowers.