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building society

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noun British.
  1. savings and loan association.
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Origin of building society

First recorded in 1840–50
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2018

British Dictionary definitions for building society

building society

noun
  1. a cooperative organization that accepts deposits of money from savers and uses them to make loans, secured by mortgages, to house buyers. Since 1986 they have been empowered to offer banking services
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Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012