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mutual savings bank
(redirected from Mutual Associations)

   Also found in: Financial, Wikipedia 0.01 sec.
mutual savings bank
n
(Economics, Accounting & Finance / Banking & Finance) Chiefly US a savings bank having no subscribed capital stock and distributing all available net profit to depositors who, however, remain creditors without voting power
ThesaurusLegend:  Synonyms Related Words Antonyms
Noun1.mutual savings bank - a state-chartered savings bank owned by its depositors and managed by a board of trustees
savings bank - a thrift institution in the northeastern United States; since deregulation in the 1980s they offer services competitive with many commercial banks


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The Conference is held by the National Union of Mutual Associations, jointly with the Arab Union of Mutual Associations (UAM) and the Tunisian social economy network.
Four of these thrifts are mutual associations and are to be acquired in "conversion-acquisition" transactions; Mutual Savings Bank of Rockingham County, SSB, Reidsville; Scotland Savings Bank, SSB, Laurinburg; Citizens Savings Bank, Mooresville; and Home Savings Bank of Albemarle, SSB, Albemarle.
Stores mutual associations sprouted up all over the country.
 
 
 
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