The role of savings and loan associations (building societies) in mobilizing savings for housing

Abstract

Savings and Loan Associations or Building Societies carry out the same basic functions in collecting savings from the public and using these savings by lending the money to individuals by way of mortgage loans in housing. There are, of course, innovations which have been introduced in different societies in different countries and details of these will be given later. It should be remembered that the British term "building society" is a misnomer since no house building is actually carried out by any of these societies.