Southern Enterprise Awards 2021

58 | Southern Enterprise Awards 2021 Sep21351 Foresters Friendly Society’s mission is to put its members at the heart of everything it does, and that ethos has not changed since its inception in 1834. Being a mutual society, savers automatically become members who own the organisation, with all Foresters profits distributed to them through policyholder bonuses instead of to shareholders. Whether providing first-class customer service, affordable savings and investment plans with easy access or supporting members with discretionary grants at different life stages, everything Foresters does is for its customers. Foresters Friendly Society provides affordable, easy to access savings and investment plans for the whole family - babies to seniors. The aim is to make saving as simple as possible, from providing tools to help people narrow down what product may be suitable for them or providing calculators so they can understand the potential for their plan’s performance. Foresters are with its members, hand in hand, every step of the way with a friendly, UK based customer services team. Providing financial and social support to its members has been Foresters’ primary purpose throughout its long history. At its initial start over 180 years ago, members recognised that paying a few pence a week into a common fund would be beneficial as the company would then offer sick pay at a time when insurance did not exist. Nowadays, Foresters is the 5th oldest mutual society in the UK and the 7th largest in terms of the funds it manages on behalf of its members. As a modern mutual, Foresters has experienced significant new business growth as it continues to offer consumers an alternative to the high street banks, backed by a truly customer-driven proposition. More than just a financial services provider Each year, in keeping with the value of putting members at the heart of its business, Foresters pays out in the region of £1million back to members in the form of discretionary grants which do not need paying back. In 2020, Foresters paid out a generous £1.7million in addition to the £2.5million that was paid out in policy bonuses added to members’ savings plans. Most Innovative Financial Solutions Provider - Hampshire The grants Foresters support its members with cover everyday costs such as visits to the dentist or opticians, but also financial hardship. To date, the company has paid out over £100K to members for covid-related reasons in addition to its other discretionary grants. Foresters also supports members in more positive times, namely with its Educational Award which pays up to £250 each year to assist anyone in higher education or with completing an apprenticeship. More people are choosing Foresters Friendly Society In 2021, Foresters have had a record-breaking year for new business, with more people taking out a savings/investment plan with them than ever before, some of which is because of the pandemic highlighting the importance of having a financial cushion should it ever be needed and making Foresters their savings provider of choice. Foresters will continue to build on the strong growth it has experienced throughout 2021 and is heavily investing in its IT capability, expecting to launch a new digital service for members shortly to enable them to feel as engaged as possible with their savings plans. Overall, Foresters cultivates an open, honest, and supportive culture amongst its people, recognised as one of its greatest assets, to ensure they are well equipped to provide the first class service members have come to rely on and expect. Company Name: Foresters Friendly Society Contact Name: Sally Waterfield Web Address: www.forestersfriendlysociety.co.uk Contact Email: [email protected] Capital at risk. The membership benefits Foresters provides aren’t regulated by the Financial Conduct Authority or the Prudential Regulatory Authority, and are regularly reviewed to ensure they are relevant to members.