What is another word for building loan association?
Pronunciation: [bˈɪldɪŋ lˈə͡ʊn ɐsˈə͡ʊsɪˈe͡ɪʃən] (IPA) 
A building loan association is a financial institution that provides loans to individuals or groups for constructing or renovating buildings. This term is often used interchangeably with other terms such as savings and loan association or thrift. Other synonyms encompassing the same meaning include building society, homestead association, cooperative bank, and construction loan association. These institutions facilitate homeownership and real estate development by providing low-interest loans to prospective homeowners and entrepreneurs. The primary aim of these associations is to promote affordable and accessible housing options for the community, while also encouraging savings and prudent investment practices. Regardless of the synonyms used, building loan associations have played a vital role in the development of housing and real estate in many countries worldwide.
