Mutual Bank

a bank owned by its depositors - a CoOp? See also Mutualism

In America, most Mutual Savings Bank-s are located in the Northeast, and are owned by their depositors and borrowers. A mutual savings bank does not issue capital stock. Profits are distributed to the owner/customers in proportion to the business they do with the institution.

William Batchelder Greene (1818-1878) was a 19th century American individualist anarchist and banking reformer. His most famous work is entitled Mutual Banking, which proposes an interest-free banking system. He tried to obtain a charter from the U.S. government to establish a mutual bank but was denied permission to do so. This reinforced the individualist anarchist opposition to the "banking monopoly."

a potential source of MicroLending?


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