What is another word for savings loan association?
Pronunciation: [sˈe͡ɪvɪŋz lˈə͡ʊn ɐsˈə͡ʊsɪˈe͡ɪʃən] (IPA) 
A savings loan association is a financial institution that focuses on providing various types of savings and loan services to its customers. There are several synonyms for this term, including savings and loan, thrift, building society, and credit union. Savings and loan associations are typically similar to banks, but they have a different business model that focuses on providing loans to customers using the pooled savings of other customers. In contrast, credit unions are member-owned financial cooperatives that offer a wide range of financial services, including loans, deposits, and other investment products. Building societies, on the other hand, provide mortgage lending and savings accounts to their customers.
