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.
So 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