savings and loan association (S&L) is a financial institution whose principal function is to promote thrift and home ownership. Depositors earn interest on their deposits, often at a higher rate than is offered at commercial banks. The S&L invests some of these deposits in residential mortgage loans, enabling more people to purchase and/or repair their homes. Savings and loan associations are active participants in the home loan mortgage market. (See thrift).
Barry Goldsmith
| APA | Barry Goldsmith. (2010). savings and loan association (s&l). Retrieved October 2, 2026, from http://smartdefine.org/savings_and_loan_association_(s%26l)/definitions/1162919 |
| Chicago | Barry Goldsmith. 2010. "savings and loan association (s&l)" http://smartdefine.org/savings_and_loan_association_(s%26l)/definitions/1162919 (accessed October 2, 2026). |
| Harvard | Barry Goldsmith 2010, savings and loan association (s&l), Smart Define, viewed 2 October, 2026, <http://smartdefine.org/savings_and_loan_association_(s%26l)/definitions/1162919>. |
| MLA | Barry Goldsmith. "savings and loan association (s&l)" 21 October 2010. Web. 2 October 2026. <http://smartdefine.org/savings_and_loan_association_(s%26l)/definitions/1162919> |