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English Lexicon

Savings and loan

/ˈseɪ.vɪŋz ənd ˈloʊn/
nounCEFR C1 (Advanced)Top #4500 frequency
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Comprehensive Definitions & Senses

2 senses
As noun
  1. 1

    A financial institution that specializes in accepting savings deposits and making mortgage and other real estate loans.

    "Many local families secured their first home mortgages through the community savings and loan."
  2. 2

    A mutual or stock-owned thrift institution operating primarily to promote homeownership and provide personal savings accounts.

    "The federal regulations on the savings and loan sector were significantly tightened after the crisis of the 1980s."
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Linguistic Origin & Historical Etymology

The term originated in the United States during the 19th century, evolving from building and loan associations established to help working-class individuals pool their savings and secure mortgages for homeownership. Over time, the descriptive phrase became formalized in financial legislation, commonly abbreviated in speech and business as S&L.

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