Mutual Savings Association Advisory Committee

The history of the mutual form of ownership is as old as the industry itself, dating to the formation in 1831 of the first savings association—the Oxford Provident Building Association. By buying shares in the association and pooling their money, association members came together to realize the dreams of homeownership that had been out of reach.

Free from stockholder calls for larger returns, mutual institutions still tend to be small, locally focused institutions that are woven into the fabric of the communities they serve. The OCC tailors its examination procedures and off-site monitoring systems to the unique characteristics and operations of these institutions. Mutuals continue to play an important role in providing financial services to communities across America.

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