Mutual Organization - Modern Mutuality

Modern Mutuality

Various types of financial institutions around the world are mutuals, and examples include:

• Asset management companies (most are not mutual)
  • The Vanguard Group - United States
  • TIAA-CREF - United States
• Building societies
  • Nationwide Building Society - United Kingdom, largest building society
• Cooperative banks
• Credit unions
• Friendly societies
• Mutual healthcare providers such as Benenden Healthcare Society - United Kingdom
• Mutual insurance/assurance companies
  • Current:
    • Amica Mutual Insurance - United States
    • American Family Insurance - United States
    • Co-operative Insurance Society - United Kingdom
    • Guardian Life - United States
    • Illinois Mutual - United States
    • Liberty Mutual Insurance - United States
    • LV= - United Kingdom
    • Mutual of Omaha
    • MassMutual - United States
    • New York Life - United States
    • Northwestern Mutual - United States
    • State Farm Insurance - United States
  • Former:
    • Gjensidige ASA - Norway
    • Metropolitan Life - United States
    • Principal Financial Group - United States
    • Prudential - United States
• Mutual savings bank
• Savings and loan associations

Some mutual financial institutions offer services very similar to (if not the same as) those of a commercial bank. In some markets, mutuals offer very competitive interest rates and fee tariffs on savings and deposit accounts, mortgages and loans. The members who save and borrow with the mutual ultimately own the business.