The Office of Thrift Supervision said Wednesday that it is accepting nominations for a committee it is creating to advise mutual thrifts.

The OTS said the Mutual Savings Association Advisory Committee would "study the needs of mutuals, assess the challenges they face and advise the OTS director on how to best support" them.

The OTS is accepting nominations until Jan. 8. William Ruberry, an OTS spokesman, said the committee would have as many as 12 members. Committee members would not be paid but they would be reimbursed for travel expenses, according to a notice published in Tuesday's Federal Register.

Of the nearly 8,400 insured bank and thrift institutions in the country, about 550 are mutuals, according to the American Bankers Association.

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