Purpose of mutual savings banks?
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andonis
Apprentice
Joined: 25 Aug 2007
Posts: 1
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 Posted: 06/15/08 - 08:40 Post subject: |
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| Hi, I have a question that I have troubles finding the answer on my own. That is why I was wondering if anyone could help me with this matter. To make the story short I would like to know more about the purpose of mutual savings banks. Does it sound familiar to you? Feel free to write down anything you know about it. |
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sheffy
Apprentice
Joined: 10 Jul 2004
Posts: 8
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| Posted: 07/15/08 - 01:33 Post subject: |
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| The main purpose of mutual savings banks is to provide for a safe place for people to invest their money in mortgages, loans or other financial instruments and securities. It is important to remember that this type of bank does not issue capital stock but they can stimulate savings by individuals. I hope this was helpful enough. |
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