Savings and Loan


S&L. A federally or state chartered financial institution that takes deposits from individuals, funds mortgages, and pays dividends.

Use Savings and Loan in a sentence

He worked in the savings and loan department and they were in charge of a bunch of different things, like funding mortgages.

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We ran a profitable little savings and loan for many years, and operated in good standing with the community which harbored us.

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Savings and loan companies make sure that the interest rates they charge cover the amount of money that they lend to people. This way everyone is covered.

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Federal Home Loan Banks savings account