What is another word for savings and loan?
Pronunciation: [sˈe͡ɪvɪŋz and lˈə͡ʊn] (IPA) 
Savings and loan, also known as thrift institution, is a financial institution that accepts deposits from customers and offers mortgage loans, personal loans, and other financial services. There are several synonyms for the term savings and loan, including building societies, cooperative banks, and credit unions. Building societies are financial institutions that offer savings, loans, and mortgages to their members. Cooperative banks operate similarly to savings and loans, but are owned by their members. Credit unions are non-profit financial institutions, owned and operated by their members, which offer similar services to traditional banks and savings and loans. These synonyms for savings and loan help customers to better understand the financial institutions available to them.
