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savings and loan association Hear it!

savings and loan association definition

☆ savings and loan association

a depositor-owned organization that solicits savings to be placed in saving accounts or in share accounts, on which interest or dividends are paid, and from which mortgage loans on homes or real estate are made

Webster's New World College Dictionary Copyright © 2005 by Wiley Publishing, Inc., Cleveland, Ohio.
Used by arrangement with John Wiley & Sons, Inc.

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