Against stiff opposition, its audit services team has just agreed contracts with Marsden, Penrith, Vernon and Ecology bringing the total to 18 building societies - a gain of five clients since July 2004. This figure is expected to grow month on month as the team becomes even more established.
Of particular note is the fact that the team has won the internal audit contract of the British Wool Marketing Board, its first non-corporate client from outside the building society sector.
On the signing of the new audit contracts, Barry Meeks, Managing Director of Mutual One said: “Mutual One’s audit services team is now regarded as the reputable, cost-effective solution for building society audit issues during these very difficult times of increasing regulation. I’m also delighted that a non-corporate client from outside the building society sector has recognised ours skills as being appropriate for them.
“As well as other cost-cutting initiatives which will be due for launch within the next month, we also have exciting plans for building societies to boost their bottom line and they will be hearing from us shortly.”