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friendly society |
Also found in: Dictionary/thesaurus, Wikipedia, Hutchinson | 0.02 sec. |
friendly societyMutual aid organization formed voluntarily by individuals to protect members against debts incurred through illness, death, or old age. Friendly societies arose in 17th- and 18th-century Europe and England and became most numerous in the 19th century. They trace their roots to the burial societies of Greek and Roman artisans and the guilds of medieval Europe. In attempting to define the magnitude of the risk against which they guarded and to determine how much members should contribute to meet that risk, friendly societies used what is now the basic principle of insurance. |
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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. The Oddfellows(TM) is one of the largest and oldest Branch based friendly societies operating in the UK. The researches of local historians in England show that by the 1870s membership of friendly societies comprised a cross section of those in the population who worked with their hands. |
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Friendly societies
