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mutual savings bank
(redirected from Mutual Banks)

   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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MI), one of Italy's largest mutual banks by the number of branches, has reported that its consolidated first-half net profit has increased to EUR437m, from EUR204.
America's Community Bankers, which represents virtually all mutual savings banks in the country, strongly urged a committee of the Connecticut Legislature in Hartford today to abandon a bill that would make it easier for interlopers to raid the assets of mutual banks.
``There is no basis for any speculation that Washington Mutual Banks are being specifically targeted,'' he said.
 
 
 
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