a savings bank or savings and loan association that is similar to a bank
institution is a general term for savings banks and savings and loan associations.
Another term for a thrift institutions.... read full article
1. The wise use of money, especially avoiding unnecessary spending. 2. An financial institution formed to hold deposits for and make loans to individuals, not businesses; examples include credit unions and savings and loan associations. (Compare with commercial bank.)
see savings and loan association.
1. The wise use of money, especially avoiding unnecessary spending. 2. A financial institution that accepts savings deposit s but is not a bank ; this includes credit union savings and loan association s, and mutual savings bank