Mutual Trust?

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Dec 14, 2009 7:52 pm

I have heard of them in the past but am not totally clear on how they
work.  I have a prospect that has been presented with a 5% Mutual Trust
that apparently he can hold for 1, 3 or 5 years and he can pull out at
any time? 

Is this 5% fixed?

Do they work similar to a Trust Preferred where they can stop paying interest at any time and the interest in not retro?

Is there any surrender fees to get out of them?

Any other info that could be useful would be great.  Thanks!