Scottish Friendly

Founded in 1862 as the City of Glasgow Friendly Society, Scottish Friendly is a member-owned mutual headquartered in Glasgow. It provides savings, investment, life assurance and protection products, with profits returned to members rather than distributed to external shareholders.

The organisation serves more than 854,000 members and had £4.4 billion in assets under management at 31 December 2025. Its strongest areas are family-focused savings and investment products, including Stocks & Shares ISAs and Junior ISAs, which recorded 60% year-on-year sales growth in 2025.

Scottish Friendly has expanded through acquisitions and is pursuing a proposed merger with OneFamily, announced in 2026 and subject to regulatory approval. For students, it offers exposure to insurance, investments, product management, operations, technology and member-focused financial services within a relatively compact organisation.