Friendly Society

benefit society, non-profit organization

A friendly society (sometimes called a mutual society, benevolent society or fraternal organization) is a mutual association for insurance-like purposes, and often, especially in the past, serving ceremonial and friendship purposes also. It is a benefit society composed of a body of people who join together for a common financial or social purpose. Before modern insurance, and the welfare state, friendly societies provided social services to individuals, often according to their religious or political affiliations. Unlike guilds, society members do not necessarily share a common profession. Before large-scale government and employer health insurance, friendly societies played an important part in many people's lives. In some countries, half the population was covered by such societies. Many of these societies still exist. In some countries, they have been incorporated into the health system and become like insurance companies and lost their ceremonial aspect; in others they have taken on a more charitable or social aspect.
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A form of corporate structure in the United Kingdom for the conduct of life or health insurance, pension fund or education-related business. - (read more on Friendly Society)