AMB Members Only Resources

Articles Regarding Conversion to Stock:

Next America's Mutual Banks Meeting


AMB has returned to its regular biweekly meeting schedule.  Meetings will take place at 1:00 pm Eastern Standard Time via ZOOM. Our next meeting is:

Monday June 5, 2023
To join the Zoom meeting:

To Dial-In by your location:

+1-301-715-8592 (US)
+1-646-558-8656 (US)
+1-346-248-7799 (US)

Meeting ID: 981 7099 0350

Meeting PW: 620562

If you have any questions please contact Doug Faucette at 202-220-6961

America's Mutual Banks Officers

  • Chairman - Leonard Stekol, Ridgewood Savings Bank

  • Vice Chairman - Kenneth Weinstein, Newtown Savings Bank

  • Second Vice Chairman - David Barksdale, Piedmont Federal Savings Bank
  • Treasurer - Acting

  • Immediate Past Chairman - Thomas J. Fraser, First Federal Lakewood
2019 Annual Meeting Presentations

2017 Annual Meeting Powerpoint

2017 Presentations

2016 Annual Meeting Powerpoints

Useful Information on Mutuality

OTS Rules, Regulations and Orders









Articles and Speeches

  • March 2005 article entitled "Modernizing Corporate Governance for Mutuals - Preserving Mutuality"
  • February 2008 presentation entitled "Maintaining Your Mutuality"

Case Law: Conversion of Stock Life Insurer to Mutual Life Insurer

McEvoy v. Savings Bank Life Insurance Co. of Massachusetts (Lawyers Weekly No. 12-084-17)

Federal Agency Mutual Websites

Tax and Member Rights

Mutual Insurance Industry


Credit Union Industry


Selected Citations Authorizing Conversion of Charters to and from the Credit Union charter


Bank Conversion to Credit Union


 Conversion of Credit Unions to Banks


Credit Union Acquisition of Banks

Court Decisions and Filings Affecting Mutuals


Mutual Holding Companies



Challenges Against Mutual Corporate Governance



Mutual Mergers & Acquistions



Articles on Mutual Banks


OCC Mutual Savings Association Advisory Committee Member Bios

U.S. Taxation of Mutual Banks

International Year of Cooperatives


United Nations Declares 2012 International Year of Cooperatives

On December 21, 2009, The United Nations General Assembly declared 2012 as the International Year of Cooperatives, highlighting the contribution of cooperatives to socio-economic development.  In adopting the resolution, the Assembly noted that cooperatives impact poverty reduction, employment generation and social integration.


For a copy of the full press release, click here.


NCBA Applauds Passage of Senate Resolution for International Year of Cooperatives
On July 21, 2011, The National Cooperative Business Association applauded the unanimous passage of Senate Resolution 87, which designates 2012 as the International Year of Cooperatives. The bi-partisan Resolution was introduced by Tim Johnson (D-SD) and Thad Cochran (R-Miss.) and 29 additional co-sponsors.


For a copy of the full press release, click here.


Change For  A Dollar, A History of First Savings and Loan
Ricky Smith, Chapel Hill Press Inc. 2011, Library of Congress Catalog Number 2011928281

This book was written by a president of a small mutual in the Piedmont region of North Carolina. It chronicles the life a 100 year old mutual S&LA and how it has made an indelible mark on the community it serves. While the author lays no claim to being a real life Jimmy Stewart, it is clear that the story of Bailey Building and Loan is not merely a figment of Hollywood’s imagination. It is a story repeated every day by hundreds of small mutual S&Ls throughout the country. However, unlike Bailey Building and Loan, todays mutuals must compete to serve their communities in a far more complex financial system. The title is a reminder that small towns and the associations that serve them have experienced many changes over the years. This story explains how a small financial institution has dealt with so many changes and thrived without sacrificing its core principles of mutuality. It recounts the history of both Mebane and First savings and how they have adapted to a more complex world. The author tells the story in style that is easy to read and is particularly appealing to readers who appreciate small town life and believe a few can make a difference for many.

Minutes of Previous Meetings