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Key Features
About Us | Mutual's and Friendly Societies
Mutuality is a practical and established way of doing business based on a strong sense of community, identity and values.
Mutual Societies were often formed to overcome some forms of social or economic injustice confronting the poorer members communities. Friendly Societies witnessed a tremendous growth following the Industrial Revolution of the nineteenth century. As there was no welfare state and few means for poorer people to save, Friendly Societies were used by people to put aside small sums of money to provide income for old age or protection against unforeseen events in the future, such as ill health or inability to work.
Friendly Societies expanded to provide income support in the event of sickness or industrial accidents and to give assistance to workers in factories. Since little care or regard was shown to these workers by employers or government, the mutual organisations, such as Friendly Societies, helped to provide the basic necessities of food, housing, sickness benefit and burial.
Between 1910 and 1947 Friendly Societies administered the State Sickness Benefit Scheme. At their peak in 1945, Friendly Societies also provided for the needs of a further 8.75 million private subscribers through 18,000 branches or societies.
Today Friendly Societies are still strong, providing assistance and advice to those on a range of incomes, as well as offering a range of savings, protection and healthcare products for those who only have small sums to invest.