Note 210 — Chapter XI
Reading edition
The first Benefit Building Society which can be traced was founded in 1815 under the auspices of the Earl of Selkirk. It was a village club composed of some working men in Kirkcudbright, in Scotland. Other institutions of a similar kind followed, and were called Menages, and soon afterwards the principle was introduced into England. In 1836 the first Act was passed with regard to them.