Momentum for mutuals: a global signal for growth

12 December 2025

The creation of the Mutual and Co-operative Sector Business Council is a landmark moment for our colleagues abroad and a strong signal of the growing recognition of member-owned business models worldwide.

This initiative underscores what we’ve long championed at the BCCM: mutuals and co-operatives are not just alternative business models – they are engines of innovation, resilience and community value. When governments partner with mutually purposed businesses, they unlock solutions to some of the biggest economic and social challenges.

Kevin Parry OBE, Chair of Nationwide Building Society and now Chair of the new Council, said: “With my long-standing interest in mutual organisations and through my role as Chair of Nationwide Building Society, I know first-hand the contribution this sector makes to the economy and to society. My colleagues and I are keen to do all we can to work with government to ensure mutuals and co-operatives not only thrive in their own right but also contribute to some of the biggest challenges the UK faces.”

We were honoured to host Kevin Parry OBE at our 2025 Taste of Australia Dinner in Adelaide, where he delivered his after-dinner address, The March of the Mutuals. Kevin highlighted the resurgence of member-owned businesses and shared Nationwide’s bold acquisition of Virgin Money as a sign of confidence in the mutual model. His remarks explored the global momentum behind mutuals as a force for long-term stability and member value – themes now echoed in the UK Government’s commitment to partner with the sector.

This development mirrors the momentum we’ve seen here in Australia, where reforms such as Mutual Capital Instruments have opened new pathways for growth. It’s further proof that the co-operative and mutual model is gaining traction globally – delivering competition, choice and shared prosperity.

Find out more about the Mutual and Co-operative Sector Business Council.