Owned By You
The managers of mutuals are only responsible to customers like you, and not to shareholders. Research also shows that on average mutual customers are more likely to recommend a mutual organisation than a PLC.
AFM research conducted in 2012 and repeated in 2014 shows that when asked to rank financial mutuals and financial plcs on a trust scale of 1-10, financial mutuals received a ‘Net Trust Score’ of +32%, compared to financial plcs, which registered -5%, clearly demonstrating that whilst a vast majority of people trust mutuals with their money, the same cannot be said for shareholder-owned companies, who people lost confidence in during the financial crisis.
Source: Association of Financial Mutuals