When asavings bank is a mutual association,it means that it is owned by the:

Question

Quizplus · Accepted Answer

When a savings bank is a mutual association, it means that it is owned by its depositors. Mutual associations are formed for the benefit of their members, who in this case are the depositors, and any profits or surplus are reinvested back into the institution or distributed among its members. Therefore, the correct choice is depositors (Option C).

When Asavings Bank Is a Mutual Association,it Means That It