A mutual savings bank is a type of financial institution that is owned by its depositors rather than shareholders. This means that the profits generated by the bank are typically reinvested into the bank or distributed to depositors in the form of higher interest rates on savings accounts. Mutual savings banks primarily focus on accepting deposits and providing loans, particularly for home mortgages. These banks are often established to serve the needs of local communities, offering a range of services such as savings accounts, checking accounts, and personal loans. Unlike commercial banks, mutual savings banks prioritize the interests of their depositors, which can lead to a more customer-focused banking experience.