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What are mutuals?

What are mutuals? Here are some definitions.

Noun
  1. plural of mutual
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Examples
He has been the labour historian most concerned with uncovering forgotten histories, including the histories of mutuals and friendly societies.
I don't know where he gets his figures from, but you don't have to be a rocket scientist to see that mutuals are strapped for cash right now.
It was not the mutuals that rushed into buying chains of estate agents and had to sell out in a hurry.
So I was already wondering, as this is one of the UK's very last mutuals, whether the time is right for me to break with convention and vote.
It believes, as Britain's biggest building society, that it must consistently demonstrate that mutuals are cheaper than plcs.
Between them, the former mutuals are holding either shares or cash bonuses which have still to be claimed by more than 500,000 former members.

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