Longman Dictionary of Contemporary English
The Collaborative International Dictionary
Benefit society \Benefit society\ A society or association formed for mutual insurance, as among tradesmen or in labor unions, to provide for relief in sickness, old age, and for the expenses of burial. Usually called friendly society in Great Britain.
Wiktionary
n. Any of various early types of life insurance or mutual support associations. (from 17th c.)
Wikipedia
A friendly society (sometimes called a mutual society, benevolent society, fraternal organization or ROSCA) 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 (rotating savings and credit associations), ASCAs (accumulating savings and credit associations), burial societies, chit funds, etc.
Usage examples of "friendly society".
At the far end it contained only a neat two-roomed building, the office of a friendly society.
She's got no money, no friends ' 'My dear, don't drone on as though you were recommending a case to the Girls' Friendly Society.
So well did she perform her part, so soothing did he find her friendly society, that he came often and lingered long, for with her, and her alone, he could talk of Ariel.
Call it a cooperative, call it a friendly society, call it a goddamn craft guild.