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Simple English definitions for legal terms

savings-and-loan association

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A quick definition of savings-and-loan association:

A savings-and-loan association is a type of bank that mainly gives out loans for people to buy homes. They also offer other banking services like checking accounts. They were created a long time ago to help people who didn't have a lot of money save and borrow money at fair rates. They are sometimes called S&Ls or thrifts.

A more thorough explanation:

A savings-and-loan association is a type of financial institution that is similar to a bank. It mainly provides home-mortgage loans, but it also offers other banking services like checking accounts. It is also known as S&L, loan association, thrift institution, or thrift.

For example, if you want to buy a house, you can go to a savings-and-loan association to get a mortgage loan. They will lend you the money to buy the house, and you will pay it back with interest over time. You can also open a checking account with them to manage your money.

Savings-and-loan associations were created to help people with modest resources and income to save money and get loans. They were developed by social reformers, philanthropic benefactors, religious and fraternal organizations, trade unions, employers, and thrift entrepreneurs. They provide an alternative to commercial banks, money lenders, and pawn shops that may not offer favorable interest rates to poor individuals and families.

savings account | savings bank

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19:33
i was thinking for sure there would be some mass event/ happening today. to my surprise, all is calm
1a2b3c4d26z
19:33
Yes llama, nothing ever happens
19:34
wow lots of decisions today, i think today was the most per day yet.
Dkk
19:36
Stay off reddit. It will do this to your brain:
19:37
google contracted with reddit to train their ai how people talk. lol the 'ai future' is going to be full of search results FED REDDIT POSTS. unplug the internet now! https://www.reuters.com/technology/reddit-ai-content-licensing-deal-with-google-sources-say-2024-02-22/
Google AI is actually pretty cool though. Only when its actually accurate though.
19:40
by pretty cool, do you mean smug pseudo intelect?
Dkk
19:40
THE INTERNET WAS A MISTAKE. END IT NOW.
Dkk
19:40
Google AI kept telling me schools were not binding ED when they were. Really annoyed me.
Dkk
19:41
Yeah, when accurate it is nice.
this election has the potential to push america further into ultranationalist populism
Dkk
19:42
Maybe, didnt happen last time.
19:42
it was hard to not improve it. google search was terrible due to the ads and seo cheaters with buzz words and alt text
Dkk
19:42
SEO is big money
2016 pushed the conservative party into populism irreversibly
Dkk
19:43
Maybe, but if this is populism, then every election is populist.
19:43
@Dkk: yeah register 1 website and every swinging tom dick and harry calls/emails/texts to 'help with seo'. like bruh, if YOU found it, what i am doing is working
Dkk
19:43
Indeed!
19:48
wasp, i think people are hopeful for a gov who at least attempts to care about the common man
MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
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