Savings banks Depositor-owned, bank like institutions chartered by individual states and almost identical to savings and loans in operation. They began in
Savings bank life insurance Savings bank life insurance originally sold by mutual savings banks in Massachusetts, New York, and Connecticut. Now sold in other states as well.
Mutual savings bank Mutual savings bank is a thrift institution that accepts time deposits and lends them for home purchase and construction. Its lending policies are usually more liberal than those of a savings and loan association
Definition