Mutual: Difference between revisions
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imported>Doug Williamson (Add definition. Source: Linked pages) |
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1. ''Organisational structures.'' | |||
Building societies are mutual organisations. | An organisation owned and controlled by its customers - who are members of the mutual organisation - although day to day management will often be undertaken by professional managers, especially in larger mutuals. | ||
Building societies and credit unions are mutual organisations. | |||
The members do not normally contribute directly to the capital of the organisation. | |||
Rather, they derive their rights to vote and to surpluses, from their customer relationship. | |||
2. ''Adjective.'' | |||
Agreed by, or affecting, both parties to a contract or other arrangement. | |||
==See also== | ==See also== | ||
*[[Building society]] | *[[Building society]] | ||
*[[Credit union]] | |||
*[[Employee Ownership Association]] | |||
*[[Member]] | |||
*[[Mutual break]] | |||
*[[Mutual fund]] | *[[Mutual fund]] | ||
*[[Shareholder]] | *[[Shareholder]] | ||
[[Category:The_business_context]] | |||
Latest revision as of 17:21, 4 August 2022
1. Organisational structures.
An organisation owned and controlled by its customers - who are members of the mutual organisation - although day to day management will often be undertaken by professional managers, especially in larger mutuals.
Building societies and credit unions are mutual organisations.
The members do not normally contribute directly to the capital of the organisation.
Rather, they derive their rights to vote and to surpluses, from their customer relationship.
2. Adjective.
Agreed by, or affecting, both parties to a contract or other arrangement.
