Making Mutualisation Work 7 th April 2011 Co-operatives UK The national trade body that campaigns for co-operation and works to promote, develop and unite co-operative enterprises. We work to promote the co-operative alternative across many sectors of the economy from high street consumer- owned co-operatives to pubs and football clubs, healthcare to agriculture, credit unions to community owned shops. The co-operative economy is worth some 33.5 billion and has 12.9 million members. Largest membership movement in the country. What is a mutual? Several definitions Mutuals are organisations that are owned by, and run for the benefit of, their current and future members. Mutuals take many forms and operate in a wide range of business and social environments. Mutuo Mutual organisations exist for the principal purpose of delivering a benefit to their members. Those members can be employees, customers, other key stakeholders, or some combination of all three. - Baxi Partnership Limited Mutuals are organisations that are owned by, and run for the benefit of their members on a fair and equitable basis. Mutuals take many forms including: building societies, co-operatives, financial mutuals, employee owned businesses and smaller community owned shops. Co-operatives UK (working definition) Wordle Characteristics of a Mutual Not a legal form but an organisation type. Owned and run by and for the benefit of their members. Varied membership criteria defined by the relationship with the mutual. Usually separated into 2 camps traditional and new. Democratic governance usually one member one vote. Co-operatives are one type of mutual Not a legal form, but an organisation type. Take many legal forms, but traditionally IPSs as the structure enshrines democratic participation. Unlike a mutual, co-operatives are defined as: an autonomous association of persons united voluntary to meet their common economic, social and cultural needs and aspirations through a jointly-owned and democratically controlled enterprise. A set of values and principles are applied to support this definition. All co-operatives are mutuals but not all mutuals are co-operatives no requirement for a mutual to comply with the co-op v&ps. Traditional Mutuals Building Societies Credit Unions - Financial Mutuals NFU Mutual, Benenden Healthcare Society Co-operatives The Co-operative Group New Mutuals 1.Community Mutuals Supporters Trusts Energy Pubs/Shops New Mutuals 2.Public Sector Leisure Trusts GP Consortia Spin Outs for LA Linda Barlow Legal Officer