Customers rightly demand high standards from the financial firms they put their money and trust into. The Mutual Way sets out to consumers what they can expect from a financial mutual. Where you see the logo, it means that firm has committed itself to working in the best interests of its customers. We have summarised what this means below:
The Mutual Way means that an organisation is committed to those values, and is constantly seeking ways to better serve its customers.
For example, in 2021, members of AFM with a book of Child Trust Funds decided that if a child with learning difficulties had a maturing Child Trust Fund, our members would pay the proceeds without requiring the parents or guardian to complete a time-consuming and costly Court of Protection process. We believe that to avoid obstacles to people getting their money is The Mutual Way.
Also, AFM members with income protection policies are committed to paying all reasonable claims, and each year we collect data to show this. In 2021, over 94% of claims were paid- much more than the industry as a whole. We believe that to treat claims fairly is The Mutual Way.
To find out more about the AFM Member organisations that have signed up to The Mutual Way and how they’re demonstrating their commitment to these core principles, click on the links:
|• Cirencester Friendly
|• Red Rose Assurance