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The Friendly Guide to Mutuals

The Friendly Guide to Mutuals explains what makes a mutual like Scottish Friendly different and what being part of one means for you.

What is a mutual?

A mutual is owned exclusively by its customers or members and run for their benefit. They can provide a wide range of products and services, such as savings, investments, children’s savings, mortgages, insurance, pensions and healthcare.

Features of membership

How is a mutual different from other financial services providers?

In the UK, most of our banks, building societies and big insurance companies are run as Public Limited Companies (PLC). This means they have external shareholders to pay.

Mutuals are different because of the way they behave - and the reason they do business. With mutuals, there are no shareholders to keep happy, so profits are usually reinvested for the benefit of members.

Frequently asked questions

Why choose Scottish Friendly?

  • Established 1862

    We've been helping customers to invest for over 150 years.

  • We're a mutual

    That means any profits are used to benefit our members - people like you.

  • You're protected

    Your money is protected by the Financial Services Compensations Scheme.