friendly society

(redirected from Friendly societies)
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Related to Friendly societies: Registrar of Friendly Societies

friendly society

a business organization which is owned by its members. Friendly societies were the forerunners of many modern Insurance Companies and BUILDING SOCIETIES. See REGISTRAR OF FRIENDLY SOCIETIES, BUILDING SOCIETIES ACT, 1986.

friendly society

an association of individuals (members) who make regular voluntary contributions into a fund upon which they can draw in times of need or to provide themselves with houses. Friendly societies were the forerunners of the modern INSURANCE SOCIETIES and BUILDING SOCIETIES. See REGISTRAR OF FRIENDLY SOCIETIES, BUILDING SOCIETIES ACT 1986.
References in periodicals archive ?
The main sources used in this article are reports from the Registrar of Friendly Societies and later reports by the Registrar on Building Societies.
Mutual insurers have existed in the UK for hundreds of years in the form of friendly societies and mutual insurance companies.
British friendly societies have often been cited as exemplars of working-class self-help (or mutual) aid, embourgeoisement, and conservatism, while the organizations are often seen to have achieved their greatest influence and popularity in the mid-Victorian era.
One of the oldest Friendly Societies still operating today is the Shepherds which was founded as long ago as 1826; the Society has a solid base of over 27,000 members located around the UK, yet an enlightened board and management team have made major advances in recent years in building a significant third party business through IFA's and intermediaries.
Friendly societies can be traced back to 1793 when an act was passed giving them legal status.
Gosden (1961), and Simon Cordery (2003) with regard to English friendly societies; and David Beito (2000) with regard to U.S.
When building societies were friendly societies and mortgages were issued on the basis of three and a half times the main applicant's salary, they were run for the benefit of all their customers - not just the fat cat directors and shareholders.
A FRIENDLY societies provide savings plans with special tax-free benefits for regular savings of up to pounds 25 per month.
A THERE are a number of children's savings plans offered by Friendly Societies that accept a maximum monthly contribution of pounds 25.
Simon Cordery's examination of British friendly societies is a long-overdue look into the origins, operations, social significance, and ultimately, decline and demise of one of the most significant contributions to nineteenth century economic, social development in liberal and industrial Great Britain.