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mutual savings bank

noun
  1. a noncapitalized savings bank that distributes its net earnings to depositors.
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Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2018

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
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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