Association of Financial Mutuals (AFM)

We're Mutual - We Only Work for You

UK financial organisations are either authorised by the Financial Conduct Authority (FCA) or the Prudential Regulation Authority (PRA) or dual regulated by both regulators, and are either mutuals or public limited companies (PLCs).  Foresters Friendly Society, as a mutual organisation is not owned by external shareholders but instead we 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 Association of Financial Mutuals (AFM), the trade body that represents mutual insurers, friendly societies and other financial mutuals right across the UK now comprises 53 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 £100 billion.


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 can boast the following results from our 2013 annual customer survey:

  • 93% of claimants surveyed were satisfied with the overall service provided by Foresters
  • 92% of claimants agreed that Foresters really cares about its customers and 92% agreed that the Society treats its customers fairly;

We are authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (Registration No. 110029).

To find out more go to Owned By You