mutual savings bank

American  

noun

1. a noncapitalized savings bank that distributes its net earnings to depositors.

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mutual savings bank British  

noun

1. 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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Example Sentences

See Examples For:

mutual savings bank

The Buffalo bank had already picked up two other failing savings banks since the start of December, and is now the largest mutual savings bank in the U.S.

From Time Magazine Archive

The importance of these is great: over 50% of the total mutual savings bank deposits of the country are in New York.

From Time Magazine Archive

Turning to banking at 45, he became president of the world's largest mutual savings bank in 1931.

From Time Magazine Archive

"There was such a crowd on the floor," said the vice president of a New York mutual savings bank, "that for a moment I thought there was a run on the bank."

From Time Magazine Archive

No amount of money can buy a man's way into a mutual savings bank.

From Readings in Money and Banking Selected and Adapted by Phillips, Chester Arthur