FRIENDLY SOCIETIES
INCREASED MEMBERSHIP. ACCUMULATED FUNDS. (Special to “Tribune.”) Wellington, Aug. 24. According to a report presented to Parliament the membership of friendly societies has increased from 91,353 to 94,467, a gain of 3114, equal to 3.41 per cent. This increase, although slightly less than in each of the three preceding years, indicates the continued 'p°P u l ar 'ty the friendly society movement in New Zealand. The total accumulation of funds of the societies increased by £201,446, from £3,136,237 to £3,337,683, the average capital per member now being £35 6/8, as compared with £34 6/7 for the year 1925. The total net interest earnings of the sick and funeral funds during the year was £159,103. This represents a rate equal to 5.81 per cent., as against 5.75 per cent, for the previous year.
The average contributions and interest per member credited to the sick and funeral funds increased from £3 10/3 to £3 11/4, and the cost of sickness and funeral benefits per member, at a risk from £1 9/8 to £1 12/9, the total increase in these funds representing a net gain of £1 19/4 per member.
The mortality rate increased from 7.22 to 8.02 per thousand members risk,
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Bibliographic details
Hawke's Bay Tribune, Volume XVII, Issue 214, 24 August 1927, Page 7
Word Count
201FRIENDLY SOCIETIES Hawke's Bay Tribune, Volume XVII, Issue 214, 24 August 1927, Page 7
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