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What Do Customers Of Financial Mutuals Say?
Here is what some customers of mutual insurers say about being part of a mutual
Paul Giangrande, a haematology consultant, chose to take out his pension and income protection products with Wesleyan, partly because it is a mutual organisation.
Dr Giangrande (pictured right) says:
There are no shareholders to pay and no fat cats to be paid out of the money that I'm paying in. It is essentially a democratic organisation in which members have a say. There are no tricky shareholder groups trying to exert pressure. I can get better rates and better treatment.
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Here is what some other customers of mutual organisations say
"The company is better being a mutual company as shareholders do not have to be paid."
"I like to feel as though I own a piece of the action."
"In this organisation you feel as though you have a slight control in the sense that we have a vote to stop a strategic move."
"It seems warm, friendly... for me it's like John Lewis; in our benefit... it's belonging..."
"I think the trust element is implicit with the mutuals."