Editors Note: The Registry of Friendly Societies
(RFS) is a statutory office of the Department of Business, Enterprise and Innovation and shares office space with the Companies Registration Office at Bloom House, Gloucester Place Lower, Dublin 1.
But the story is not 'known' or shared or taught broadly of those self-governing and self-organizing bodies with a dedication to self-help and mutual help (the friendly societies
) that arose everywhere among the Black masses.
The Oddfellows are a number of friendly societies
which often date back to the 17th century and were set up to protect and care for members in an age when there was no welfare state.
Furthermore, LFSs were not fully mutual societies as only investors, and not borrowers, were members; for example, the Castletown Delvin LFS's rules stated that depositors over [pounds sterling]100 ([euro]8,492 in modern monetary value) were automatically members, and membership was not a requirement for borrowing, thus LFSs did not operate on principles similar to contemporary Friendly Societies
or later cooperative banks.
AND OTHER UK MUTUALS: A VEHICLE FOR TAKAFUL IN THE EUROPEAN MARKET
made up the most common and highest-enrolled workingclass organizations in late-Victorian Britain.
Before the twentieth century brought us insurance and the welfare state, fraternal or friendly societies
provided financial and social services to individuals, often according to their religious or political affiliations.
have existed in the UK for over 200 years and have played their own traditional niche role in providing savings and protection plans for families seeking some financial security.
The end of the Child Trust Fund (CTF) means friendly societies
can devise other savings schemes for youngsters, says Neil Armitage of the Foresters Friendly Society.
To avoid the threat of the workhouse people began to band together and form friendly societies
Engage Mutual is a trading name of Homeowners Friendly Society Limited (HFSL), Registered and Incorporated under the Friendly Societies
Act 1992, Registered number 964F, and its wholly-owned subsidiary engage Mutual Funds Limited (eMFSL), registered number 3224780.
There are around 50 friendly societies
in the UK that offer financial products, with these holding around Au18 billion on behalf of six million people.