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2017 Word of the Year

mutual savings bank

noun
1.
a noncapitalized savings bank that distributes its net earnings to depositors.
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Based on the Random House Dictionary, © Random House, Inc. 2017.
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British Dictionary definitions for mutual savings bank

mutual savings bank

noun
1.
(mainly 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 & Unabridged 2012 Digital Edition
© William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012
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