Finbond Mutual Bank Darling

A “Mutual Bank” also known as a “Mutual Savings Bank” is a bank which is operated on a Mutual Bank model, with the specific goal of encouraging savings and providing benefits to its depositors. When someone deposits funds in a “Mutual Bank”, she or he essentially buys an ownership stake in the bank and are entitled to vote at shareholder and member meetings. A Mutual Savings Bank is set up specifically to be operated for the benefit of the depositors. The purpose of the Mutual Bank is to stimulate savings by creating a safe place to deposit money and to offer benefits such as interest on deposits and dividends on Mutual Bank shares, and to invest conservatively for the purpose of generating profits.