10 Good Reasons

10 Good Reasons to Join Sheffield Mutual

1. We are an independent mutual organisation – the Society is owned by its customers (known as members), which means all our surplus funds are used to provide benefits and good returns to members rather than pay dividends to external shareholders.
2. We are a successful friendly society – Friendly Societies have existed for hundreds of years and were originally founded to provide benefits to people with limited resources in times of need. Whilst times have changed, the ethos of providing products to improve the financial wellbeing of members remains true to Sheffield Mutual today.
3. We offer a wide range of simple products – Sheffield Mutual really does offer something for everyone in the family, from Child Trust Funds for the little ones right through to tax free ISAs*, regular savings and investment bonds. We also offer the ever popular Tax Exempt Savings Plan*, which are unique to Friendly Societies such as ourselves. We strive to keep our products simple and easy to understand.
4. We are specialists in with-profits policies – Most of our products are with-profits policies, which share in the Society’s investment returns and other profits, without exposing the member to excessive risk. The Society invests in a range of low to medium risk assets, comprising commercial property, shares, UK Government gilts, fixed interest bonds and cash; and we use the funds accumulated in good years to supplement member bonus rates in less favourable conditions.
5. We have a track record of paying market leading returns – We aim to provide above average returns over the life of a policy and have delivered consistently good returns for members over several years. You can compare our bonus rates with other organisations through independent sources such as Money Management magazine.
   
6. We provide guarantees on many of our products – Many of our products offer a guaranteed minimum sum assured, which means you will receive this sum plus any bonuses (which once added cannot be taken away) providing you hold the policy to maturity and pay all premiums due.
7. We offer a friendly, personalised service – You can always speak to a friendly, knowledgeable member of staff at Sheffield Mutual, who will take personal responsibility to deal with your request or question accurately and efficiently. All our service and administration is carried out in our modern headquarters near Barnsley, South Yorkshire and you can visit us if you live nearby. Otherwise, please give us a call or send an email via our website.
8. We treat members fairly – As a member owned organisation, our decision making and policies are driven by our members and not external shareholders. We aim to be fair and to use plain English in all our dealings with members and, in the unlikely event of a problem, we will do our utmost to resolve the matter to your complete satisfaction.
9. We invest ethically – We will not invest in companies that are known to be involved in the production of armaments, tobacco or pornography.
10. We are financially strong & well managed – The Society offers a safe and secure home for members’ funds and holds surplus capital well in excess of the regulatory minimum requirement. We have a careful and prudent investment policy, but for added peace of mind we are also a member of the UK Financial Services Compensation Scheme.
    

*Based on the Society’s understanding of current legislation and HMRC practice, which may be
subject to change in the future.