What is a mutual?
Mutuals are organisations that are owned by, and run for the benefit of, their current and future members.
Mutuals take many forms and operate in a wide range of business and social environments. Most people recognise mutuals through one or more of the long established building societies, co-operatives, friendly societies and mutual insurers. But the sector encompasses many more types of organisations – some large and well established like housing associations, clubs and employee owned businesses to smaller, specialist bodies such as credit unions, football supporter trusts and community mutuals.
In recent years, many new mutuals have sprung from the public sector – new independent organisations providing public services, such as NHS Foundation Trusts, Leisure Trusts, Co-operative schools and community mutual housing schemes.
Then there are the wide range of membership organisations that fulfil important roles in the culture and society of our nation – all operating in the interest of their members, providing services and enriching peoples’ lives.
Here are some links to other organisations representing mutuals:
Mutuals Manifesto launched (March 1)
AFM is one of the sponsors to the Mutuals Manifesto, which challenges all political parties to show they understand the mutual sector, and proposes ways in which the next Government can allow mutuals to compete more equally with shareholder-owned companies, and protect the public interest.
Click here to read the manifesto.