 | |
| Company type | Friendly Society |
|---|---|
| Founded | 1826 |
| Headquarters | Shepherds Friendly, Haw Bank House, Cheadle, SK8 1AL, England |
| Products | Long-term insurance and investment products |
| Website | www |
Shepherds Friendly Society is a UK friendly society and one of the oldest mutual insurers in the world. [1]
It is an incorporated society in the United Kingdom within the meaning of the Friendly Societies Act 1992. It has over 100,000 members. [2]
The Industrial Revolution led to major changes in society, with village communities diminishing and new towns and industries springing up. As there was no state provision for the poor, mutual aid organisations known as friendly societies were established to help families against hardship brought about by illness or death. Such societies began as locally based groups, whose members contributed a small amount each month so that payouts could be made to those in need, with the rest of the money received either saved or invested.
Shepherds Friendly started life as a sickness and benefits society, Ashton Unity, which was formed in Ashton-under-Lyne, Lancashire on Christmas Day in 1826. It was later renamed as the Loyal Order of Ancient Shepherds, "loyal" referring to the Crown and "shepherds" to the Nativity of Jesus. Its objects were "to relieve the sick, bury the dead, and assist each other in all cases of unavoidable distress, so far as in our power lies, and for the promotion of peace and goodwill towards the human race". It later spread across the country, organised into local branches; like other friendly societies such as the Oddfellows, these were known as 'lodges', and officers wore regalia somewhat similar to those of freemasons. By 1914 the membership had grown to 143,000. The Ancient Shepherds raised substantial funds from its members to support charities, presenting two lifeboats to the RNLI in the 1800s, and supported the Red Cross and YMCA in the Second World War. [3] [4]
Various similar mutual associations have since amalgamated with it, including the Royal Shepherds Sanctuary Benefit Society which was established in Yorkshire in the early 19th century, and the Ancient Order of Shepherds.
Shepherds Friendly Society has changed from a traditional insurance provider to a modern diversified financial services organisation. [5] It offers a range of savings, protection and insurance plans for its members.
The Australian Natives' Association (ANA) was a mutual society founded in Melbourne, Australia in April 1871. It was founded by and for the benefit of White native-born Australians, and membership was restricted to that group.
The Independent Order of Foresters, operating as Foresters Financial, is a fraternal benefit society headquartered in Toronto, Ontario, Canada that provides life insurance and other financial solutions in Canada, the United Kingdom, and the United States. As of 2022, Louis Gagnon has served as the company's president and CEO.
A friendly society is a mutual association for the purposes of insurance, pensions, savings or cooperative banking. It is a mutual organization or 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 financial and social services to individuals, often according to their religious, political, or trade affiliations. These societies are still widespread in many parts of the developing world, where they are referred to as ROSCAs, ASCAs, burial societies, chit funds, etc.
The Independent Order of Rechabites (IOR), also known as the Sons and Daughters of Rechab, is a fraternal organisation and friendly society founded in England in 1835 as part of the wider temperance movement to promote total abstinence from alcoholic beverages. The Order has been active in Australia from 1843, promoting temperance and as a benefit society. A branch was established in the United States in 1842, and also flourished for a time. In the United Kingdom, the Order trades under the name of Healthy Investment, being well connected in upper society and involved in financial matters; there it gradually transformed into a financial institution which promotes teetotalism.
Odd Fellows is an international fraternity consisting of lodges first documented in 1730 in London. The first known lodge was called Loyal Aristarcus Lodge No. 9, suggesting there were earlier ones in the 18th century. Notwithstanding, convivial meetings were held "in much revelry and, often as not, the calling of the Watch to restore order." Names of several British pubs today suggest past Odd Fellows affiliations. In the mid-18th century, following the Jacobite risings, the fraternity split into the rivaling Order of Patriotic Oddfellows in southern England, favouring William III of England, and the Ancient Order of Oddfellows in northern England and Scotland, favouring the House of Stuart.
A mutual organization, also mutual society or simply mutual, is an organization based on the principle of mutuality and governed by private law. Unlike a cooperative, members usually do not directly contribute to the capital of the organization, but derive their right to profits and votes through their customer relationship.
The Independent Order of Oddfellows Manchester Unity Friendly Society Limited, also called the Manchester Unity of Oddfellows; trading as The Oddfellows, is a fraternal order founded in Manchester in 1810.
A benefit society, fraternal benefit society, fraternal benefit order, friendly society, or mutual aid society is a society, an organization or a voluntary association formed to provide mutual aid, benefit, for instance insurance for relief from sundry difficulties. Such organizations may be formally organized with charters and established customs, or may arise ad hoc to meet unique needs of a particular time and place.
A mutual insurance company is an insurance company owned entirely by its policyholders. It is a form of consumers' co-operative. Any profits earned by a mutual insurance company are either retained within the company or rebated to policyholders in the form of dividend distributions or reduced future premiums. In contrast, a stock insurance company is owned by investors who have purchased company stock; any profits generated by a stock insurance company are distributed to the investors without necessarily benefiting the policyholders.
The Ancient Order of Druids (AOD) is the oldest neo-druid order in the world. It was formed in London, England, in 1781. Its motto is Justice, Philanthropy and Brotherly Love.
The United Kingdom is home to a widespread and diverse co-operative movement, with over 7,000 registered co-operatives owned by 17 million individual members and which contribute £34bn a year to the British economy. Modern co-operation started with the Rochdale Pioneers' shop in the northern English town of Rochdale in 1844, though the history of co-operation in Britain can be traced back to before 1800. The British co-operative movement is most commonly associated with The Co-operative brand which has been adopted by several large consumers' co-operative societies; however, there are many thousands of registered co-operative businesses operating in the UK. Alongside these consumers' co-operatives, there exist many prominent agricultural co-operatives (621), co-operative housing providers (619), health and social care cooperatives (111), cooperative schools (834), retail co-operatives, co-operatively run community energy projects, football supporters' trusts, credit unions, and worker-owned businesses.
A fraternal order is a voluntary membership group organised as an order, with an initiation ritual and traits alluding to religious, chivalric or pseudo-chivalric orders, guilds, or secret societies. Fraternal orders typically have secular purposes, serving as social clubs, cultural organizations and providing a form of social welfare through reciprocal aid or charitable work. Many friendly societies, benefit societies and mutual organisations take the form of a fraternal order.
The Order of Free Gardeners is a fraternal society that was founded in Scotland in the middle of the 17th century and later spread to England and Ireland. Like numerous other friendly societies of the time, its principal aim was the sharing of secret knowledge linked to the profession and mutual aid. In the 19th century, its activities of mutual insurance became predominant. By the end of the 20th century, it had become almost entirely extinct, but that can be revised due to some growth in the early 21st century.
The Foresters Friendly Society is a British friendly society which was formed in 1834 as the Ancient Order of Foresters. As of 31 December 2016, the society had approximately 75,000 members. Its head office is located in Southampton, England.
The history of insurance traces the development of the modern business of insurance against risks, especially regarding cargo, property, death, automobile accidents, and medical treatment.
The Ancient Order of United Workmen (AOUW) was a fraternal organization in the United States and Canada, providing mutual social and financial support after the American Civil War. It was the first of the "fraternal benefit societies", organizations that would offer insurance as well as sickness, accident, death and burial policies.
Credit unions in the United Kingdom were first established in the 1960s. Credit unions are member-owned financial cooperatives operated for the purpose of promoting thrift, providing credit and other financial services to their members.