Owned by its depositors and sometimes borrowers, who are referred to as members in a saving and loan association. The members elect directors to its board of trustees. Members have no direct claim to the association’s earnings and mutual associations do not issue stock shares. Credit unions are a type of mutual association.
What is MUTUAL ASSOCIATION?
- MUTUAL BENEFIT ASSOCIATION
- NATIONAL ASSOCIATION OF HEALTH UNDERWRITERS
- BUILDING AND LOAN ASSOCIATION
- CLOSED-END MUTUAL FUND
- ARTICLES OF ASSOCIATION
- HOMEOWNER ASSOCIATION (HOA)
- MORTGAGE BANKERS ASSOCIATION
- OPEN END MUTUAL FUND
- AMERICAN MARKETING ASSOCIATION (AMA)
- ASSOCIATION OF CERTIFIED FRAUD EXAMINERS (ACFE)
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