mutual savings bank(redirected from Mutual Savings Associations)
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mutual savings bank
(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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|Noun||1.||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