Mutual savings banks

mutual savings banks
mostly in the northeastern U.S., these state-chartered banks are owned by the depositors and operated for their benefit. Most of these banks hold a large portion of their assets in home mortgage loans.

Mutual savings banks also accept deposits primarily from individuals, and place a large portion of their funds into mortgage loans. These institutions are prominent in many of the northeastern states.

See A. Teck, Mutual Savings Banks and Savings and Loan Associations (1968); F. E. Balderston, Thrifts in Crisis: Structural Transformation of the Savings and Loan Industry (1985).
Law Encyclopedia:
Savings and Loan Association
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Withdrawals from NOW accounts may be offered by commerical banks, mutual savings banks, and savings and loan associations and may be owned only by individuals and certain nonprofit organizations and govermental units.

They includes Saving & Loan Associations (S&Ls), Mutual Savings Banks, Credit Unions. Traditionally, S&Ls accepts deposits and make loans for house construction, house purchase, house improvement or refinancing .

Deposits or withdrawable accounts with mutual savings banks, cooperative banks, credit unions, domestic building and loan associations, ...

Mutual savings banks are state-chartered institutions, owned by their depositors and managed for their mutual benefit by self-perpetuating boards of trustees. Savings deposits may also be received by a or a .

SAVINGS DEPOSITS: Accounts maintained by banks, savings and loan associations, credit unions, and mutual savings banks that pay interest but can not be used directly as money.

Thrift institutions (thrifts)
Savings and loan associations, mutual savings banks, and credit unions.
Tax Reform Act of 1986
A 1986 law involving a major overhaul of the U.S. tax code.

Thrift Institution - thrifts include mutual savings banks, savings and loan associations and credit unions.

Dividends on real estate investment trusts (REITs), mutual savings banks, and certain other investments aren't considered qualifying and are taxed at your regular rate.
Dividend payout ratio ...

Initiated in 1816, the first mutual savings banks (MSBs) were the Philadelphia Saving Society and Boston's Provident Institution for Saving. Most MSBs were located in the Mid-Atlantic and industrial Northeast regions of the United States.

that are treated as interest and reported in Part I of Schedule B are income from accounts in cooperative banks, credit unions, domestic building and loan associations, domestic savings and loans, federal savings and loans, and mutual savings banks.

Thrift: 1. The wise use of money, especially avoiding unnecessary spending. 2. A financial institution that accepts savings deposit but is not a bank. This includes credit unions, savings and loan associations, and mutual savings banks.

or by being bought by other financial organizations, resulting in members receiving cash or share windfall payments. In the United States, mutual associations, a type of savings and loan association, and state-chartered mutual savings banks are ...

That means you owe tax at your long-term capital gains rate provided you have owned the stocks the required length of time.Dividends on real estate investment trusts (REITs), mutual savings banks, ...

See also: Saving, Mutual savings bank, Banks, Savings bank, Savings and loan association