Australia’s first member-owned wellbeing company

What does it mean to be member-owned?

Being a member-owned company—also called a mutual— means we’re owned by our members, not shareholders. That gives us the freedom to invest money back into the services and solutions that matter most to our members, customers and the Australian community and make long term decisions.

Publicly traded

Mutual company

Profits

Profits are distributed to shareholders without necessarily benefiting customers

Profits are put back into the company to benefit members, customers and the community

Risk tolerance

Can have tolerance towards higher risk to generate higher profits

Typically pursue lower-risk strategies, where long-term safety is paramount

Purpose

Dual purposes: to create profits for shareholders AND to provide services to customers

Main purpose is to provide services to members and customers

Governance

Shareholders can participate in the governance of the company (e.g. electing the board of directors)—customers don’t have this right unless they own shares in the company

Members, who are typically customers, can participate in the governance of the company (e.g. electing the board of directors)

Care

Shareholders generally care about profits and dividends

Members and customers care about cost, service, coverage and community