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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.
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.
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 believes, as Britain's biggest building society, that it must consistently demonstrate that mutuals are cheaper than plcs.
Where mutuals are concerned members have a great deal of power to play with.
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.

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