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 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.

The Association of British Insurers (ABI) represents insurers across the UK. Each year its members carry out research amongst customers to see how satisfied they are with the service provided to them by their insurer. One question asks ‘How likely are you to recommend this organisation to a friend?' Those who answer ‘likely' or ‘very likely' are considered to be an advocate of that organisation.

Of the mutual organisations surveyed the last time ABI published data (in 2010), 78% had a rating that was higher than the industry average score. Which means a customer of a mutual is more likely to recommend their organisation to a friend.

Source: Association of Financial Mutuals, Data compiled from figures provided by all the mutual organisations taking part in the customer impact study. More details of the Customer Impact Study can be found at