Mutual association


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Mutual association

A savings and loan association organized as a cooperative, with members purchasing shares, voting on association affairs, and receiving income in the form of dividends.

Mutual Savings Bank

A savings and loan association that has no stockholders and, as a result, reinvests all profits in itself. Most mutual savings banks are owned by their depositors and borrowers. Because there are no stockholders to please, mutual savings banks are often very conservative with how they invest deposits. As a result, they tend to survive periods of financial distress relatively well. This was especially true during the Great Depression. In the United States, most mutual savings banks are in the Northeast.
References in periodicals archive ?
The Polish-Welsh Mutual Association describes this as the biggest barrier of all, leading to Poles living in ghettoes.
Almost 90 people were killed and 200 injured in the blast at the headquarters of the Argentine Jewish Mutual Association.
Two new products to enhance the background screening of retail employees are available from United States Mutual Association of Tulsa, Oklahoma.
Biggers of Little Rock recenvly received the Diamond Award for sales achievement during the year ended May 31 at the annual meeting of the Northwestern Mutual Association of Agents.
Under the conversion plan, S will convert from a mutual association to a stock company and all of its newly issued shares will be simultaneously purchased by P (a newly formed holding company) using a portion of the initial stock offering proceeds raised by P from its shareholders.
In Argentina, the July 1994 bombing of the Argentine Israeli Mutual Association (AMIA), killed 86 people and wounded 120, mainly Jewish, victims.
terrorists blew up the AMIA building, home of the Jewish-Argentine Mutual Association and key Jewish community organizations.
Most of the courses are offered through either the insurance trade associations like the mutual association, the Professional Insurance Agents of Indiana or the Independent Insurance Agents Association of Indiana.
The report also includes industry definition, 5-year historical trends on industry sales, establishments and employment and estimates on up to 10 sub-industries, including fraternal life insurance organizations, mutual association life insurance, and life insurance agents.
I've had the opportunity to get to know Julia through our mutual association with the Executive Leadership Council, and she not only has an exceptional track record of leading procurement at companies with massive global operations, but also has a highly strategic and collaborative approach that will help us partner more closely with our suppliers to exceed guest expectations and drive value for the business.
Transport Bureau says no major changes will be introduced to the bidding system, that does not sit well with the president of the Macau Taxi Drivers Mutual Association
Timerman to achieve [results] and make progress in the legal proceedings for the AMIA [Asociacion Mutual Israelita Argentina or Argentine Israelite Mutual Association case] was very constructive and I hope that the issue will continue to make progress and yield good results," Salehi told reporters on Tuesday.