What does Mutual Membership Terms mean?

It is just another type of mortgage, which among other benefits it also entitles the borrower to become member of the respective lending institution. By becoming a member of that institution, you may gain the right to vote for example, but in general limited activity power will be assigned to you. Moreover, in case of privatization of the respective mutual organization, you will receive further benefits which will either be constituted by shares or even by a cash lump sum.