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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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i cant i would go crazy
JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
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the devil
youre on a plane??? LSD made the mile high club??
20:50
yo splitterus are you in school already
20:50
it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
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im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
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@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
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