mutual association

mutual association
/'mju:tʃuəl əˌsəυsieɪʃ(ə)n/ noun US
a form of savings and loan association which is owned by its members

Dictionary of banking and finance. 2015.

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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. Bloomberg Financial Dictionary …   Financial and business terms

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