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Mutual Bank
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Bill Seitz is a Product Manager/CTO with a track-record of bringing a business perspective to building agile product-development teams for start-ups, and is seeking a senior role in an entrepreneurial organization building disruptive Internet-driven products.
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last edited
by BillSeitz
on
Nov 21, 2008 6:36 am |
a bank owned by its depositors
http://en.wikipedia.org/wiki/Mutual_organization
In America, most mutual savings banks 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. http://en.wikipedia.org/wiki/Mutual_savings_bank
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." http://en.wikipedia.org/wiki/William_B._Greene
a potential source of Micro Lending?
Bill Seitz, fluxent at gmail dot com, Weblog