Why Mutual Banks Are Better for the Community

Hands as a team

Mutual banks have a different corporate structure than commercial banks. They do not have shareholders, but rather are owned mutually by their depositors. They cannot be bought and answer only to their customers. Free from stockholder calls for larger returns, mutual institutions tend to be locally focused and woven into the fabric of the communities they serve.


The mutual form of bank ownership dates to 1831 and the formation of the first savings association—the Oxford Provident Building Association in Philadelphia. 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.


The Bank of Bennington is a mutual bank with a deep commitment to the area. It is the only bank headquartered in Bennington County, with branches in Arlington, Manchester, and Rutland.