savings-and-loan
UK[ˈseɪvɪŋz ən ˈləʊn]US[ˈseɪvɪŋz ən ˈloʊn]
n
A financial institution, especially in the United States, that accepts savings deposits and makes mortgage loans.
n
(attributive) Relating to such an institution.
Morpheme Breakdown
savings
and
loan
savings
noun
and
conjunction
loan
noun
Etymology
The term "savings-and-loan" is a modern compound noun, formed in the 19th century to describe a specific type of financial cooperative. It is built transparently from three common English words: "savings" (money set aside), the connective "and", and "loan" (something lent). The name directly describes the institution's core dual function: it pools the savings of many members to provide funds for home mortgage loans to other members. This descriptive, functional naming contrasts with more opaque financial terms, clearly signaling the entity's purpose of linking savers and borrowers within a community.
Analysis
Structure: savings (noun) + and (conjunction) + loan (noun)
savings: From the verb 'save', of Old French origin (salver), ultimately from Latin 'salvus' (safe, healthy). Functions as a noun meaning money saved.
and: From Old English 'and', 'ond', a conjunction used to connect words or clauses.
loan: From Old Norse 'lán', related to Old English 'lǣn', meaning something lent for temporary use.
Examples
He worked at the local savings-and-loan for over thirty years.
The savings-and-loan industry faced a major crisis in the 1980s.
They got their mortgage from a federally chartered savings-and-loan association.