OPEN AN ACCOUNT

Online Banking Login

Username:
Password:

Forgot Password       Not yet enrolled? Enroll now

eStatement Only Login
 

OPEN AN ACCOUNT

LOG IN

Mercer Savings Bank Logo
  • PERSONAL
    • Mortgage Loans
    • Auto Loans
    • Mobile Banking
    • CardValet
    • Online Banking
    • Personal Loans
    • Checking
    • Savings
    • Rates
    • Perks
    • Debit and Credit Cards
  • BUSINESS
    • Commercial Loans
    • Business Banking
  • RESOURCES
    • Blog
    • Mortgage 101 Guide
    • Online Banking Guide
    • Credit Card Application
    • ATM/Debit Card Application
    • Youth and Student Accounts
    • Free Credit Report
    • Lost/Stolen Wallet Help
    • Order More Checks
  • CALCULATORS
    • Mortgage Payment Calculator
    • Auto Loan Calculator
    • Savings Calculator
  • ABOUT
    • Locations
  • CONTACT
  • MORTGAGE LOANS
  • AUTO LOANS
  • CHECKING
  • SAVINGS
  • BUSINESS BANKING
  • YOUTH & STUDENT ACCOUNTS

7 Advantages of a Mutual Bank

by Mercer Savings Bank / Monday, 19 July 2021 / Published in Bank Service

What is a mutual bank, and what makes it so beneficial for its banking members?

A mutual bank is a financial institution that is owned by account holders. For instance, because Mercer Savings Bank is a mutual bank, when you open a savings account, you are considered a partial owner of Mercer Savings Bank.

A mutual bank works for account holders, because account holders are owners. By opening an account, obtaining a loan or planning your retirement with Mercer Savings Bank, a mutual bank, you get access to over 130 years of financial expertise and join a community of other account holder-owners.

Decision-Making at a Mutual Bank

While a mutual bank is partly owned by account holders, account holders do not make final decisions for the bank. Instead, a board of directors is responsible for making those decisions. At Mercer Savings Bank, our board of directors consists of local community leaders.

We rely on the board and its officers to ensure that we fulfill our mission of providing excellent service and value to the people of Mercer and Darke counties.

A commercial bank, by contract, is owned by shareholders, which means a commercial bank is more concerned with pleasing individual outside interests instead of bank members and those within your community.

Advantages of Choosing a Mutual Bank

  1. Better customer service. Mutual bank employees know you’re one of the bank owners and are more than eager to please. They understand that your financial success is the bank’s success, so employees do their best to ensure you’re satisfied with the service you receive.
  2. Long-term perspective. Unlike commercial banks that must make profits for shareholders every quarter, mutual banks can take a more long-term investment perspective. This permits mutual banks to build beneficial relationships within the community and offer more flexibility to customer-
  3. Financial stability. Related to the point above, mutual banks are less likely to make risky investments than commercial banks. This can help them weather possible financial recessions more effectively.
  4. Customer safety. Mutual banks are chartered by state and/or federal governments. Mercer Savings Bank deposits, for example, are insured by the FDIC.
  5. Profits are reinvested in the community. The profits from loans are usually returned to owners in the form of lower rates on loans and higher rates on deposits. Banks usually donate to community events, too. Mercer Savings Bank has a long history of donating to local school, cultural, and community events , most recently through our Giving Mission.
  6. Employees invest in the community. Not only do employees buy homes, cars, and other products from local businesses, they frequently volunteer and invest in the communities they serve in other ways.
  7. Localized, relevant advice. Community members can receive advice from financial professionals who live within their community and understand the issues that local people face. This makes them both more empathetic and more effective in helping you achieve your financial goals.

A Mutual Bank for Mercer and Darke Counties

At Mercer Savings Bank, we’ve been serving Mercer and Darke counties for over 130 years. We’re a mutual bank, which means we don’t have shareholders. You, along with our other customers, own the bank. When you open an account, obtain a loan, or plan your retirement with us, you become part of our banking community! Find out more about what it’s like to be part of the Mercer Savings Bank family here.

  • Tweet

About Mercer Savings Bank

What you can read next

New Year, New Start: How Your Bank Can Help
7 Advantages of a Mutual Bank
When Is a Joint Bank Account a Good Idea?

Recent Posts

  • Foundations Behavioral Health Services Team Photo

    Giving Mission Spotlight: Foundations Behavioral Health Services

    This month’s Giving Mission recipient is Founda...
  • Do You Qualify for the Welcome Home Program?

    When it comes to buying a home, many buyers are...
  • Get up to $10,000 with the Welcome Home Program

    The American dream is becoming more affordable ...
  • Giving Mission Spotlight: New Madison Volunteer Fire Department

    This month’s Giving Mission recipient is the Ne...
  • A house covered in snow in the winter

    The Best Ways to Save Money This Winter

    Looking for ways to save money this winter? The...

Categories

  • Bank Service
  • Business Checking
  • First-Time Homebuyer
  • Giving Mission
  • Identity Theft Alerts
  • Miscellaneous
  • Mortgages
  • News & Events
  • Online Banking
  • Online Safety
  • Personal Banking
  • Saving Tips
  • Selling Home
  • Taxes
  • Uncategorized

Archives

  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • November 2020
  • October 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
  • February 2018
  • January 2018
  • December 2017
  • November 2017
  • October 2017
  • September 2017
  • August 2017
  • July 2017
  • June 2017
  • May 2017
  • April 2017
  • March 2017
  • February 2017
  • January 2017
  • December 2016
  • November 2016
  • October 2016
  • September 2016
  • August 2016
  • July 2016
  • June 2016
  • May 2016
  • April 2016
  • March 2016
  • February 2016
  • January 2016
  • December 2015
  • November 2015
  • October 2015
  • September 2015
  • August 2015
  • July 2015
  • June 2015
  • May 2015
  • April 2015
  • March 2015
  • February 2015
  • January 2015
  • December 2014
  • November 2014
  • October 2014
  • September 2014
  • August 2014
  • July 2014
  • June 2014
  • May 2014
  • April 2014
  • March 2014
  • February 2014
  • January 2014
  • December 2013

Celina (Market Street)

217 West Market Street
Celina, Ohio 45822
Phone: 419.586.5159

Celina (Irmscher Boulevard)

1100 Irmscher Boulevard
Celina, Ohio 45822
Phone: 419.586.5158

Fort Recovery

120 North Wayne Street
Ft. Recovery, Ohio 45846
Phone: 419.375.4149

Greenville

125 East Main St.
Greenville, Ohio 45331
Phone: 937.548.9049

 

Go Daddy Verified Vendor
Equal Housing Lenders
  • Online Banking Login
  • National Mortgage Licensing
  • Disclaimers
  • Privacy Policy

2022© Mercer Savings Bank   |   Site Design by Marketing Essentials, LLC

TOP
Mercer Savings Bank LogoLogo Header Menu
  • PERSONAL
    • Mortgage Loans
    • Auto Loans
    • Mobile Banking
    • CardValet
    • Online Banking
    • Personal Loans
    • Checking
    • Savings
    • Rates
    • Perks
    • Debit and Credit Cards
  • BUSINESS
    • Commercial Loans
    • Business Banking
  • RESOURCES
    • Blog
    • Mortgage 101 Guide
    • Online Banking Guide
    • Credit Card Application
    • ATM/Debit Card Application
    • Youth and Student Accounts
    • Free Credit Report
    • Lost/Stolen Wallet Help
    • Order More Checks
  • CALCULATORS
    • Mortgage Payment Calculator
    • Auto Loan Calculator
    • Savings Calculator
  • ABOUT
    • Locations
  • CONTACT