At a glance guide
- A mutual organisation is owned exclusively by you - its customers or members and exists for their benefit.
- There are mutuals within all sectors of financial services, including mutual Banks, Building Societies, Friendly Societies, Insurers and Healthcare providers.
- Mutuals provide savings, investments, children’s savings, mortgages, protection, pensions and healthcare.
- Mutuals account for over £95 billion in revenues in the UK*.
- Mutuals affect the lives of more than 1 in 3 UK citizens.
- More than 20 million people in the UK are members of at least one mutual.
- Over 900,000 people work in mutuals.*
- Globally, mutuals aggregate turnover is equivalent to the world’s 10th biggest economy*.
- Mutuals create and spread wealth, sharing profits through lower prices to customers and dividends to members.
- As they have no shareholders expecting dividends, mutuals can concentrate on running business in a way that best serves their customers.
*source: The Mutual Manifesto
Good to know
A stable mutual sector acts to protect the UK economy from large fluctuations experienced in stock markets.
What are mutuals saying?
“Mutuals are all about helping people to help themselves. Risk is pooled in these organisations and members share the benefits and profits of their mutual trade.”