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