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The Mutual Banking Difference

The Mutual Banking Difference

The Mutual Banking Difference

What Is a Mutual Bank?

Mutual savings banks, like Bank of Canton, are banks that operate solely for the benefit of their customers and communities. Profits are returned to customers in the form of better rates and fewer fees, and reinvested in local communities through charitable giving and outreach programs. Mutual banks are owned by their borrowers and depositors.

Ownership and profit sharing are what differentiate mutual banks from stock banks, which are owned and controlled by individual and institutional shareholders that profit from them.

Mutuality and Service

For over 180 years, Bank of Canton has remained a mutual bank. We deliver homebuyer education workshops, and financial literacy programs in our schools. We volunteer at local charities. Our employees hold leadership roles in local government, chambers of commerce, and civic organizations. We’ve donated over $1.75 million to local charities and non-profits since 2005.

From free checking accounts & digital services to specialized mortgage programs to business loans, our products and services are designed to meet the diverse financial needs of our customers and communities.

How Can We Help You?

At Bank of Canton, service is our top priority. Find out how we can help you – talk to your local banking team today.

 

Pictured: Kathie Ludecker, NMLS #458511

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