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Friendly & Mutual

The Friendly Society Difference

Ordinary financial services and insurance companies and banks exist to make profits for their shareholders.
Friendly societies are different. They are owned by their members and are here solely to deliver the best possible value for them. They have a long, proud record of providing their members with the financial security and peace of mind they need.

In the case of Tees Mutual, that record stretches back well over 100 years and includes generations of local people. Because our members are also our owners, they get the chance to attend our annual general meeting and have a say in how things are run.

Friendly societies are regulated by the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) and also covered by the Financial Services Compensation Scheme.

Mutual Trust

Mutuals provide a refreshing alternative to the big institutions, whose main focus is profit.

Because mutuals are owned by you, the members, they are able to concentrate exclusively on your needs.

Mutuals can also include working men’s clubs, housing associations and even football supporter trusts. They all have one thing in common – they’re all built on a philosophy of belonging and of mutual trust.

Despite challenging economic times, the mutual sector continues to thrive. An estimated 25 million people are members of at least one mutual and they bring in some £100bn every year. People enjoy being part of a mutual, knowing they are both financially viable and socially responsible. All revenues generated are invested back into the society or paid out in bonuses and benefits to our members.

And remember, because of their unique legal status, mutuals are able to offer tax-free products that aren’t available in high street banks.

Whether you’re looking for a life policy or an endowment policy or saving up over a number of years for something special such as a birthday, anniversary or for university, we can help.




Tees Mutual, 1-3 Kensington Road, Middlesbrough SE16 3QT +441642850022 enquiries@teesmutual.co.uk