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Mutual ownership is the best solution for ensuring a stable long-term future for these companies, and making sure that the risk taken by taxpayers will deliver for consumers in the long-term.
But in the 1960s, mutual ownership became passé.
The law is changing to allow mergers between different types of mutuals, while keeping mutual ownership.
"The only way anyone can really compete with us on costs is to adopt a mutual ownership structure," he says.
Long Island Savings Bank converted from mutual ownership, went public, and was subsequently acquired by Astoria Federal Savings.
Ideally I would like to see the Labour party taking very strong support for mutual ownership of football clubs.
Similar(18)
Where services are transferred to a co-operative or mutual, assets should be protected through common ownership.
Early in the bankruptcy proceedings, Washington Mutual claimed ownership of those funds, and in confidential settlement talks, JPMorgan agreed to hand them over.
In order to make it affordable to all, the founders adopted a mutual home ownership scheme – a new way of owning a stake in the housing market.
Using a "mutual home ownership model", residents buy 10 per cent of the allocated value of their property – from a central legal entity – when they move in and then contribute 35 per cent of their net income every month.
Labour's football taskforce led to the founding of Supporters Direct – although no government has funded the organisation – to promote the ideal of mutual fan ownership as the true character of a football club.
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