mutual savings bank

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mutual savings bank

n
(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
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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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They were in fact small mutual associations of a dozen or a hundred farmers, whose aim was to get telephone service at cost.
Chief Minister said that the festival of Christmas gives the opportunity to promote friendship, love and mutual associations and we today share the joyous moments of Christian community.
The expected intermediate outcomes for this project include: (1) prosperous and sustainable cooperatives, mutual associations, and other associations serving their members; (2) favourable framework and improved business environment for the development of businesses in the cooperative sector.
The program, a project of American Banker and Best Companies Group, considered commercial banks, thrifts, mutual associations, mutual savings banks, savings and loan associations or savings banks having at least 50 employees working in the U.
The French economist Frederic Bastiat (died 1850), said that free and self administered mutual associations existed in the UK, over 33,000 of them covering over 3 million people (half the total population), with annual revenues of PS5 million (how many billion would that be today?
a poor contribution of banks in the sector's finance, (over 15% of the overall amount of agricultural investment) in addition to the weak adherence of farmers in mutual associations of agricultural services (5%of farmers).
However, this book is the first to comprehensively document the activities of mutual associations and their microinsurance programs in Asia with a number of important case studies that offer detailed information about mutual associations in India, Sri Lanka, Thailand, Mongolia, Indonesia, and the Philippines.
This forum gave a say to stakeholders other than those usually heard at this type of conference: consumer associations presenting the views of individuals, representatives of online commercial operators (eBay, Fnac) for parcels, consignors of large volumes of mail like newspaper publishers, health mutual associations, etc.
As mutual associations, they pay dividends, rather than interest, on savings accounts.
There are good theoretical reasons to believe that voluntary mutual associations for collective benefit or individual insurance work better than governmental coercion for the same purposes, and there is good historical evidence showing the virtues of friendly societies.
Stock and Mutual Associations in the Savings and Loan Industry.