Definition of "savings and loan" []

• A thrift institution that is required by law to make a certain percentage of its loans as home mortgages (noun)

WordNet. Princeton University. 2010.

• "My uncle Isham was running the savings and loan and his son was working in the bank, in the cage."
• "Stafford loans are lowinterest loans made by commercial lenders such as banks, credit unions, savings and loan associations, or even schools to students attending school at least half time."