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Savings And Loan Association (Noun)

Meaning

A thrift institution that is required by law to make a certain percentage of its loans as home mortgages.

Classification

Nouns denoting groupings of people or objects.

Examples

  • The savings and loan association was established to provide affordable housing options for low-income families by offering competitive mortgage rates.
  • In the 1980s, many savings and loan associations failed due to reckless lending practices and inadequate regulation.
  • The savings and loan association was required by law to allocate at least 60% of its loans towards home mortgages, which helped to stimulate local economic growth.
  • After the financial crisis, the government implemented stricter regulations on savings and loan associations to prevent similar failures in the future.
  • The savings and loan association offered a range of financial products, including checking and savings accounts, certificates of deposit, and home equity loans.

Synonyms

  • Savings And Loan

Hypernyms

  • Thrift Institution

Hyponyms

  • Building Society
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