A brief history
Friendly Societies and insurers have existed for hundreds of years. People joined Friendly Societies in large numbers as they offered financial support in a time when there was no welfare state. They played a crucial role in the lives of their members during times of distress and hardship. Societies also became the social heart of many communities in the UK; early meetings were not just for paying subscriptions, they were a place to meet other members of the community.
Anglo-Saxons Friendly Society was founded in 1877, at a time when there was very little help for people in distressed circumstances. Due to a lack of financial support, families experiencing sickness death and old age, were often in dire straits. The Anglo-Saxons Friendly Society came into being as a mutual self-help group, owned by its members and offering support in times of need.
Mutual societies still play a vital role in our society, and over 140 years later, Anglo Saxons Friendly Society continues to support its members in times of need.
Today, our products continue to be simple and easy to access when healthcare needs arise. We offer a Sickness Benefit Plan designed to provide a monetary benefit when you are unable to work through incapacity as a result of illness or injury.
The Society also pays discretionary benefits for optical, dental, miscellaneous medical expenses, hospital stays, maternity grants, death grants and a 65 Birthday Bonus.
At Anglo-Saxons Friendly Society, we are owned by you, our members. When you take out membership with us you not only become part of the Society, but a part owner of the business as well. You can attend and vote at our General Meetings, giving you a say in the Society’s future.
As a Mutual, we have no shareholders to satisfy by payment of dividends – so we can share more of our surplus income with you. We also are a tax exempt business thereby improving our investment returns. Be aware, tax legislation may change in the future. Each year we decide how our surpluses can be returned to Members by way of discretionary payment grants after we have firstly paid insurance benefits and covered our operating costs.
We invest a very large proportion of your Funds in residential properties in and around Gravesend. These investment properties have generated excellent capital growth over time resulting in a very strong financial position for the Society. The income and capital growth from properties means we enjoy less volatility than if we invested heavily in stock markets.
The Society is:
A member of the Association of Financial Mutuals
Authorised by the Prudential Regulation Authority and Regulated by the Financial Conduct Authority and the Prudential Regulation Authority
A member of the Financial Services Compensation Scheme