Mutual association

A savings and loan association organized as a cooperative, with members purchasing shares, voting on association affairs, and receiving income in the form of dividends.

Mutual Savings Bank

A savings and loan association that has no stockholders and, as a result, reinvests all profits in itself. Most mutual savings banks are owned by their depositors and borrowers. Because there are no stockholders to please, mutual savings banks are often very conservative with how they invest deposits. As a result, they tend to survive periods of financial distress relatively well. This was especially true during the Great Depression. In the United States, most mutual savings banks are in the Northeast.

单词	mutual association
释义	DictionarySeemutual savings bank Mutual association Mutual association A savings and loan association organized as a cooperative, with members purchasing shares, voting on association affairs, and receiving income in the form of dividends. Mutual Savings Bank A savings and loan association that has no stockholders and, as a result, reinvests all profits in itself. Most mutual savings banks are owned by their depositors and borrowers. Because there are no stockholders to please, mutual savings banks are often very conservative with how they invest deposits. As a result, they tend to survive periods of financial distress relatively well. This was especially true during the Great Depression. In the United States, most mutual savings banks are in the Northeast.
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