Welcome to Mutual Money!
This is your one stop resource for finding news and opinions on the UK mutual financial sector.
Mutuals have no outside shareholders and therefore are able to offer some of the most attractive financial products around, because profits can be re-invested rather than distributed as share dividends. In addition because mutuals are not listed on the stock market they are often seen as a safer place to save than banks.
Most finance mutuals in this country are building societies, but there are also friendly societies, mutual insurers and credit unions.
The Co-operative Bank is also mutually owned and the UK also has some institutions that are hard to categorise, banks like Unity which is jointly owned by the Trades Unions & The Co-operative and Reliance Bank owned by a registered UK charity. We may carry stories about these banks as they often have ethical policies and share the ethos, if not the strict structure of mutuals.
We hope you will find this a useful resource in finding information about the sector. We plan to open a mutual best buy website in the very near future. Please feel free to provide comments and feedback on any aspect of this blog.
Filed under: General | Tagged: building societies, credit unions, friendly societies, mutual insurers, Mutual Money, The Co-operative Bank
