How we work for everyone's mutual benefit

Scottish Friendly is a mutual and as such, we work hard for our loyal customers.

As we explained in one of our blog posts, a mutual doesn’t have shareholders who have to be kept happy with regular dividends. Instead, it’s owned by its members and run solely for their benefit.

Mutual benefitSo unlike a public limited company (PLC), our profits are used to benefit our customers. And that could mean you.

Together, mutuals like Scottish Friendly manage a total of over £90 billion in assets and have more than 25 million customers across the UK.*

A wealth of experience

  • Mutuals typically have plenty of experience in providing the best possible service for their members too — in our case over 150 years. And research has shown that customers prefer mutual over other businesses in the same industry.*
  • Not only are mutuals popular with customers, their employees like them too. In employee owned businesses, staff satisfaction levels tend to be higher than in the wider economy.*
  • Like any other UK financial organisation, we’re authorised and regulated by the Financial Conduct Authority, so you get the same protection.

* Source: The Mutual Manifesto

Download our PDF guide explaining exactly what a Mutual is. It will also explain what being part of one means for you.