| Friendly
societies are one of the oldest financial institutions. Members
of a friendly society pay into a common fund from which they
can benefit in a time of need.
In the past joining a friendly
society gave a degree of security that your family would be
provided for in case of a sudden death or illness.
Interest earned on money you save in a friendly
society is tax-free, but there are restrictions. There are approximately
200 friendly
societies in Britain today.
For more information on friendly societies visit www.afs.org.uk.
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Friendly societies
