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Change (a mutual organization such as a savings and loan association) to one of a different kind.
- ‘This building society demutualised in 1997 and now holds more than 3% of the UK's outstanding mortgage stock.’
- ‘Crombie was said to be concerned that Hogan's comments would turn into a political issue at a sensitive time for the company which is seeking members' approval to demutualise and float on the stock exchange next year.’
- ‘However, in modern times many of these old cooperatives have demutualized and converted into stock companies to pursue higher profits.’
- ‘There are disturbing parallels here with the insurance mutuals, building societies and friendly societies that have already demutualised or are actively contemplating demutualisation.’
- ‘You don't have to demutualize when you have a strong capital base.’
- ‘New legislation is expected later this year that would allow the company demutualise and so end its takeover protection status.’
- ‘Beyond these two, there are still a number of smaller mutual building societies, but it is unlikely they will demutualise.’
- ‘He said the 5-year claiming period since the company demutualised might possibly be extended for another two years.’
- ‘Abbey - as the bank is now known - was the first building society to demutualise in 1989, giving away shares to customers valued at the time at 130p.’
- ‘In addition, however, your insurance company has announced its intention to demutualise and so you may also benefit from a windfall payment.’
- ‘Looking at other mutual insurers that have demutualised in the past, endowment and pension payouts have fallen faster for the quoted companies than for mutual insurers.’
- ‘Two hundred member signatures are needed to force a vote on demutualising the society.’
- ‘Europe's largest mutual is expected to demutualise, triggering a modest windfall for policyholders, in a move that already has the industry's largest global life players keeping an eye on developments.’
- ‘The size of any windfall is crucial to borrowers who are deciding which way to vote because they will have to pay higher mortgage bills if the lender demutualises.’
- ‘New legislation that will allow the company to demutualise (change its status from a mutual society that is owned by its members) is expected to be passed by year-end.’
- ‘Now it might sound a wee bit cynical to suggest the board waited until it had the mandate to demutualise before it told members they wouldn't be getting quite as much as expected.’
- ‘The company will update its members on whether or not it plans to demutualise at an annual general meeting in April.’
- ‘Building societies - the traditional providers of home loans - demutualised and were rapidly bought up by the high street banks.’
- ‘Faced with the pressure from its members to demutualise, the corporate strategy is often to reaffirm the commitment to remain a mutual for as long as that format is in the best interests of policyholders.’
- ‘Any building society that demutualises goes through a huge change.’
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