Forces Mutual: The Financial Ally to the Military
We are delighted that Forces Financial, Abacus and Forces Insurance have merged to create a single new brand: Forces Mutual.
Forces Mutual has been created by its owners Police Mutual Group by combining three existing businesses with an enviable heritage in serving the military. Forces Financial can trace its origins back to NAAFI Financial Services in the mid 1950’s and Abacus was formed in 1988. This new brand boasts
- A thriving savings community with over 3,000 accounts opened last year
- A strong mortgage offer with £545,500 saved by our customers through our advice services in 2016
- The largest number of FREE to use ATMs on the military estate – over 150 across 90 locations in the UK and beyond
- A team of nearly 100 dedicated Advisors serving you in branches and on Base
- A growing Military Foundation, which has a particular focus on delivering financial education FREE of charge to the military
As part of the Forces Mutual 'Improving Lives' vision and in order to realise it's ambition of being seen as the financial ally to the Military, Forces Mutual will continue to keep up to date with new needs, responding to feedback from its customers as it did when it launched Service Funds in June 2015. All of this sits alongside its core offers of Kit and Personal Possessions, Life and Critical Illness and Home and Contents Insurance.
Are you eligible for one of our products?
If you are one of the following ... you are
- Serving Military
- Reserve forces
- Retired and ex-forces
- Family Members
- Contractor to the MoD
- Support Organisations
What is Forces Mutual all about?
Your Financial Ally
Forces Mutual shares a common purpose with Police Mutual Group: "We exist to improve the lives of those that lay their lives on the line and those who support them."
'Improving the lives' of customers is a simple thing to say, but something many companies rarely manage to do. As a Mutual, and as a not for profit organisation, we arguably have a greater responsibility to our customers, we understand that we cannot afford not to fulfil this purpose. As a company we hope to become your financial ally by understanding the needs of the Armed Forces and their families throughout the various stages of your lives. Here are some examples of why we think we can live up to this purpose:
The widest offering of financial service products
We offer the widest range of financial service products to members of the Armed Forces and their families. This means we can take care of our customers throughout their Military careers, whether they're looking to buy a first home, take out insurance, save some money, book a holiday, afford private healthcare and so on.
Face to face advice when you need it
With a combined team of over 90 advisors (many of whom come from the Military family) and branches across the UK, Germany and Cyprus, we ensure that there is always someone close by who customers can turn to for advice.
As a not for profit organisation we look to pay out when things go wrong
Because we are a mutual and a not for profit organisation, we never approach insurance claims with the aim of not paying out, but rather with the desire to do right by our customers. This approach has meant that in 2015 Forces Financial alone paid out nearly £1 million pounds in claims to its customers. Unlike high street insurers, this was something the organisation was proud to do and something Forces Mutual will also take pride in.
Free financial advice and education
We continue to offer free financial advice and education to members of the Armed Forces; from saving our customers a total of £545,500 with our mortgage advice services, to helping hundreds of members of the Forces and their families to manage money worries with free debt advice.
Our Military Foundation also runs over 80 financial education courses annually for service personnel to help them make more informed decisions when it comes to their finances. We commit over £290,000 each year to our Military Foundation. Find out more
Our pledge to the Armed Forces
Stop Press: Silver Award winner March 2016
We are immensely proud to be doing all we can to help serving and retired members of the Armed Forces with their insurance and money needs, and as an organisation that supports the UK Armed Forces on a daily basis, we were delighted that Forces Financial was given a prestigious Silver Award in recognition of its support of the Defence Employer Recognition Scheme by Colonel Stuart Williams, Deputy Commander 7th Infantry Brigade & HQ East in recognition of support to Defence Personnel. This award follows Forces Financial being the first dedicated Forces financial services provider to sign the Armed Forces Corporate Covenant in 2014, marking the organisation’s on-going commitment to helping the Armed Forces community.
We proudly display our certificate across our branch network.
What is a corporate covenant?
A corporate covenant is a written and publicised voluntary pledge from businesses and charitable organisations who wish to demonstrate their concrete support for the armed forces community.
The corporate covenant is designed to allow businesses and charitable organisations to express their support, and commit to ways in which they can provide that support.
What does a corporate covenant include?
All corporate covenants include a core statement of commitment that those adopting the scheme sign up to. This covers the two key principles of the Armed Forces covenant, which are:
- No member of the Armed Forces community should face disadvantage in the provision of public and commercial services compared to any other citizen
- In some circumstances special treatment may be appropriate, especially for the injured or bereaved