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
Collins English Dictionary – Complete and Unabridged, 12th Edition 2014 © HarperCollins Publishers 1991, 1994, 1998, 2000, 2003, 2006, 2007, 2009, 2011, 2014
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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
Based on WordNet 3.0, Farlex clipart collection. © 2003-2012 Princeton University, Farlex Inc.
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