Association of Financial Mutuals (AFM)

We're Mutual - We Only Work for You

Like all UKfinancial organisations we are authorised and regulated by the Financial Services Authority.  However, as a mutual organisation we are not owned by external shareholders but work for, and only answer to, customers like you.

Experience & scale

Mutuals typically have over 100 years of experience and heritage in providing for the savings and protection needs of their customers (in our case over 175 years). The AFM now comprises 57 member companies, including Foresters Friendly Society, who collectively look after the savings, protection and healthcare needs of 20 million customers and manage assets of over £95 billion.

Trust

The managers of mutuals are only responsible to customers like you, and not to shareholders. Research shows that on average mutual customers are more likely to recommend a mutual organisation than a PLC.

Greater potential value

Research by AFM shows that in 2007 PLC insurers paid out on average 3.1p to shareholders for every £1 invested by their customers. With no shareholders to pay, mutuals can ensure that their profits are only distributed to customers like you, or reinvested to give you better returns, better value and higher levels of service.

Customer Satisfaction

According to independent surveys, friendly societies have high levels of customer satisfaction.

Foresters Friendly Society is a member of the Association of Financial Mutuals (AFM), a merger of the Association of Mutual Insurers (AMI) and the Association of Friendly Societies (AFS) and can boast the following results from our 2011 annual customer survey:

• 99% of our members are satisfied with the overall service offered
• 8 in 10 claimants are highly likely to recommend us to a friend
• 3 in 4 think that Foresters is a trustworthy company

Like all UK financial organisations we're authorised and regulated by the Financial Services Authority.

To find out more go to www.ownedbyyou.org.