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

Union Dime was 100 years old, and over the years it had gone from piggy-bank size to the nation's 15th biggest mutual savings bank with deposits of $485 million.

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

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

I pointed out to him that the great unheard majority was small property owners, . . . that there were more than 13,500,000 mutual savings bank depositors, more than 60,000,000 insurance policy holders.

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