<P> A mutual exists with the purpose of raising funds from its membership or customers ( collectively called its members ) , which can then be used to provide common services to all members of the organization or society . A mutual is therefore owned by , and run for the benefit of , its members - it has no external shareholders to pay in the form of dividends , and as such does not usually seek to maximize and make large profits or capital gains . Mutuals exist for the members to benefit from the services they provide and often do not pay income tax . </P>
<P> A mutual exists with the purpose of raising funds from its membership or customers ( collectively called its members ) , which can then be used to provide common services to all members of the organization or society . A mutual is therefore owned by , and run for the benefit of , its members - it has no external shareholders to pay in the form of dividends , and as such does not usually seek to maximize and make large profits or capital gains . Mutuals exist for the members to benefit from the services they provide and often do not pay income tax . </P>
organization that is owned and operated by its members
organization that is owned and operated by its members
mutual
mutual