Mutuals are organisations that are owned by, and run for the benefit of, their current and future members.

Mutuals take many forms and operate in a wide range of business and social environments. Most people recognise mutuals through one or more of the long established building societies, co-operatives, friendly societies and mutual insurers. But the sector encompasses many more types of organisations – some large and well established like housing associations, clubs and employee owned businesses to smaller, specialist bodies such as credit unions, football supporter trusts and community mutuals.

In recent years, many new mutuals have sprung from the public sector – new independent organisations providing public services, such as NHS Foundation Trusts, Leisure Trusts, Co-operative schools and community mutual surestart schemes.

Then there are the wide range of membership organisations that fulfil important roles in the culture and society of our nation – all operating in the interest of their members, providing services and enriching peoples’ lives.

The last ten years have seen a transformation of the UK mutual sector. Financial mutuals head the way in providing market leading products through building societies, friendly societies and mutual insurers. Consumer co-operatives are dynamic and growing, increasing their market share and driving standards of social responsibility. Employee owned businesses make a thriving contribution to the UK economy.

New Mutuals continue to be established across an exciting range of sectors – most recently in health care and education. Government has boosted the sector with new legislation and policy initiatives that have sustained these developments, all with the positive support of Opposition parties.

What all of these membership based organisations share is a common heritage and ethos – to serve their members and work in the wider interests of society.