Building Society (Noun)
Meaning
British equivalent of United States savings and loan association.
Classification
Nouns denoting groupings of people or objects.
Examples
- The local building society was offering a competitive interest rate on new accounts, attracting many new customers to the branch.
- In the UK, a building society is a type of financial institution that provides mortgage loans and other financial services to its members.
- She deposited her savings into a building society account to earn interest and keep her money safe.
- The building society was established in the 19th century to help people buy homes and has been serving the local community ever since.
- The financial regulator ordered the building society to increase its capital reserves to ensure its stability in a volatile market.