A Mutual Savings Bank is a type of financial institution that primarily focuses on accepting deposits and providing loans to its members. Unlike traditional banks, these institutions are owned by their depositors, meaning that profits are typically reinvested into the bank or distributed to members in the form of dividends. This structure allows for a more community-oriented approach to banking. These banks often offer competitive interest rates on savings accounts and lower rates on loans, making them an attractive option for individuals looking to save or borrow money. They are regulated by state or federal authorities, ensuring that they operate safely and soundly within the financial system.