A mutual savings bank is a financial institution chartered by a central or regional government, without capital stock, that is owned by its members who subscribe to a common fund. From this fund claims, loans, etc., are paid. Profits after deductions are shared between the members. The institution is intended to provide a safe place for individual...
A state-chartered savings bank which is owned by its depositors and managed by a fiduciary board of trustees.
A state-chartered savings bank that is owned by its depositors and managed by a fiduciary board of t
In the US, a savings bank which is owned by its... <a target=_blank href='http://www.finance-glossary.com/terms/mutual-savings-bank.htm?id=977&ginPtrCode=00000&PopupMode=false' title='Read full definition of mutual savings bank'>more</a>
[n] - a state-chartered savings bank owned by its depositors and managed by a board of trustees
MSB noun a state-chartered savings bank owned by its depositors and managed by a board of trustees
a noncapitalized savings bank that distributes its net earnings to depositors.