Mutuals are a form of co-operative which exist to benefit their own members. Typically they fall into three groups:-

  • Credit Unions
  • Building Societies
  • Mutual Insurers

Their chief characteristic is that their main business is internal transactions between members.

However, some other co-ops have mutual characteristics, such as farmers co-ops which provide supplies to, and market the goods of, member farmers.

The largest Building Society in Wales, the Principality is a typical Mutual. It is the 8th largest Building Society in the UK with over 400,000 members and nearly £6 billion in assets. Building Societies are represented by the Building Societies Association
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The largest Mutual Insurer operating in Wales is NFU Mutual. They are represented by the Association of Financial Mutuals 
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Farmers Co-ops in Wales are represented by the Welsh Agricultural Organisations Society, which was founded in 1922. They can be contacted via WFSBorder, a large farmer owned co-operative in Aberystwyth.
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