Fraternal benefit societies

Fraternal benefit societies are organizations that provide financial and social benefits to their members, often based on shared values or affiliations, such as religion, ethnicity, or professional backgrounds. These societies typically offer insurance products, retirement benefits, and various social activities, promoting camaraderie among members. They operate on a not-for-profit basis, using their surplus funds to support community services, charitable contributions, and member assistance. The goal is to enhance members' well-being while fostering a sense of community and mutual support.