Mutual Savings Bank

A mutual savings bank is a type of savings bank that benefits its depositors. It only operates using necessary expenses and disburses any extra profits in the form of interest to depositors of the mutual savings bank. A mutual savings bank is run under the protection of the federal or state government. Mutual savings banks provide depositors with a secure place to store money. An individual may choose to invest savings in stocks, government-issued bonds, mortgages, loans, and other types of securities.

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