Mutually Yours, February 2020
The latest news from the Association of Financial Mutuals: Mutually Yours, February 2020
AFM expresses concern over ombudsman levy increase
The Association of Financial Mutuals estimates that many firms will have to pay double their existing levy to the FOS going forward to effectively subsidise the fall-off in funding from big banks as the volume of PPI complaints continues to fall away. Read on in COVER
Mutually Yours, December 2019
The latest news from the Association of Financial Mutuals: Mutually Yours, December 2019
Recently, the Association of Financial Mutuals wrote to all the main political parties, to suggest policy options they might incorporate into their manifestos ahead of next month’s general election.
We are calling on the next Government to commit to actively supporting financial mutuals by:
- Recognising the value to consumers of mutuals, by requiring legislators and Government departments to ensure rules are fit for purpose;
- Removing barriers to the creation of new mutuals, and better enable existing mutuals to raise capital from new sources;
- Embracing new opportunities for mutual insurers to support Government policy in healthcare, and in delivering a fairer and more resilient society.
We aim to publish response from the parties in incoming weeks as they announce their manifestos. To read more, read the manifesto document: Building a more self-reliant society.
Mutually Yours, October 2019
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The Association of Financial Mutuals has appointed Jane Nelson, CEO of The Oddfellows, as its new Chair.
Members of the Association of Financial Mutuals (AFM) saw both their income and general insurance premiums rise in 2018.
Read more in The Mortgage Introducer
SMEs must tackle productivity
AFM CEO introduces two new calculators developed to help small businesses understand how staff absences can affect their business. Read the full story in COVER magazine here
Mutually Yours, August 2019
You can view the latest edition of Mutually Yours here
Mutual sector is prospering, despite regulation challenges
In an interview with the FT Adviser, AFM’s Chief Executive comments on the positive outlook for mutuals.
AFM Comments on new political report, Business With a Purpose
The latest report from the All-Party Group for Mutuals (“Business with a purpose”) demonstrates the massive contribution that mutuals make to the UK economy. The figure of £133.5 billion equates to over £2,000 per citizen per year. With one in three people now members of a mutual, compared to just 12% of the population holding direct investments in shares (according to a recent FCA consultation), the true source of wider corporate ownership today is the mutual sector. Despite this, policymakers tend to devote minimal time to understanding the value of mutuals, and to introducing proportionate legislation and regulation.
For the full report, go to: http://www.mutuo.coop/purpose-driven-businesses-top-130-billion-income-per-annum/