Bus Employees Friendly Society

A non-profit making society run by bus people for the benefit of bus people

Mutual Benefits

We're Mutual - we only work for you

UK financial organisations are all authorised by the Financial Services Authority and are either "mutuals" or public limited companies (PLCs). Mutual organisations are not owned by external shareholders (like a PLC) but work for, and only answer to, coustomers like you.

Experience and Scale

Mutuals typically have over 100 years of experience and heritage in providing for the savings and protection needs of their customers (and some have been around a lot longer). They manage over £95bn in assets and have 20 million customers.


The managers of mutuals are only responsible to customers like you, and not to shareholders. Research also shows that, on average, mutual customers are more likely to recommend a mutual organisation than a PLC.

Greater Potential Value

Research by the Association of Financial Mutuals shows that in 2009 PLC insurers paid out on average 3p to shareholders for every £1 invested by their customers. With no shareholders to pay, mutuals can ensure that their profits are only distributed to customers like you, or reinvested to give you better returns, better value and higher levels of service.

Better Service

With higher levels of customer satisfaction according to independent surveys, staff in mutuals seem to want to try that bit harder when their customers can also be the owners of the organisation they work for.

To find out more, go to the Association of Financial Mutuals website.

You'll feel better for joining
These people did...

Mr B - Medical Retirement Private Member

Mr B retired for medical reasons at age 64 after 42 years of membership. He received a lump sum payment from the Provident Fund of £800.20 in return for total contributions paid of £318.28 He had also claimed £488.10 in sickness benefits during his membership, having paid in contributions of £980.89 to the Sick Fund,receiving £246.40 refund

Total pay out of £1046.60

Mr W Northfleet

Mr W retired at 65 after 30 0years of membership of the Society. He received a lump sum payment from the Provident Fund of £765.00 in return for total contributions paid of £312.80 In addition, as a result of his good sickness record (he had claimed just £40.00 in sickness benefits during his membership), he received a partial refund of his contributions to the Sick Fund amounting to £437.65

A total payout of £1,202.65

Mr S- Medical Retirement

Although Mr S has only been a member of the Society for 8years, he has unfortunately suffered with ill health on a regular basis, and received a total of £735.50 from the Sick Fund in return for total contributions of £302.40 On being medically retired he also received a payment of £215.00 from the Provident Fund having paid £77.60 in contrbutions

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Contact Us

Bus Employees Friendly Society
Suite 2, Alma House
Alma Road, Reigate. RH2 0AX
01737 226060