Report
Financial mutuals are a key part of the UK financial system, providing mortgages, loans and insurance cover for over 30 million members. The mutuals sector is an important contributor to consumer trust and financial inclusion, focusing on offering value and choice, often to underserved communities and markets. Mutuals increase UK corporate diversity which leads to greater resilience in the financial system.
As regulators, our ambition is to facilitate the long-term sustainable growth of the sector and ensure that mutuals have the same opportunities to compete as other firms. This will help to ensure that financial mutuals can continue to serve the needs of consumers, provide vital services and support a diverse financial sector. This will be achieved through:
- proportionate regulation;
- initiatives that support mutuals in addressing the challenges and opportunities they face; and
- sector engagement and collaboration.
Mutuals landscape report