Who is a mutual member?

If you have a savings account with a friendly society such as LV= or an insurance policy with a mutual insurer such as NFU Mutual, you may be a member of that mutual society.

This means that together with all the other members, the organisation is owned by you, and it exists to serve the interests of today’s - and future - customers. You have rights, such as the right to vote in the Annual General Meeting and on other important issues.

Today, there are all sorts of exciting new mutual organisations in areas that are relevant to people’s lives. If you are involved in a Credit Union or Football Supporter Trust, you might also find that you belong to a mutual.

The key advantage of belonging to a mutual is that because there are no shareholders taking a share of the profits, the mutual is free to concentrate on running its business in a way that best serves your interests.