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Healthy Investment

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Healthy Investment

Healthy Investment
Abbreviation HI
Formation 25 August 1835
Registration no. 109994
Headquarters 2 The Old Court House, Tenterden Street, BL9 0AL
Location
  • Bury, Greater Manchester
Region served
United Kingdom
Services Ethical savings and investments
Parent organisation
Save21 - .uk.co.save21www
Website .uk.co.healthyinvestmentwww
Formerly called
The Rechabite Friendly Society

Contents

  • Introduction 1
  • History 2
  • Current Products 3
  • Ethical Investment 4
  • Regulation 5
  • References 6

Introduction

Healthy Investment[1] is a mutual friendly society that provides a range of ethical With-profits savings and investment products. They were originally formed in 1835 as The Rechabite Friendly Society but now trade as Healthy Investment.[2] They have more than 100,000 members and look after over £115m of members’ money.

History

On 25 August 1835 a small group of men, already committed to the total abstinence of alcohol, met in Mrs Meadowcrofts’ Temperance Hotel, Bolton Street, Salford in order to discuss a friendly society for those who had ‘signed the pledge’ and abstained from alcohol. From its first procession on New Year’s day in 1836 the organisation grew rapidly with local groups known as ‘tents’ being formed throughout the country. In 1842 contributions of 2 shillings per year for the under 35s entitled you to £5 death benefit and a further penny a week provided you with a sickness benefit of half a crown (12½p).

In 1999 the Society, by now known as The Rechabite Friendly Society, modernised and centralised its various local groups and regions into one Manchester based Head Office. In 2004 the Society developed further and opened its membership to include temperate members or those who "enjoy alcohol in moderation". Today The Rechabite Friendly Society trades as Healthy Investment.

The Society’s head office is now based in Bury, Greater Manchester.[3]

Current Products

Tax Exempt Savings Plans, Standard Savings Plans, Investment Bonds, Individual Savings Accounts (ISA), Junior ISAs and Child Trust Funds.

Ethical Investment

As a modern financial services organisation it specialises in providing ethical savings and investment products. It remains true to its founder’s principles and avoids direct investment in companies in alcohol, arms and tobacco industries and in gambling and pornography providers. This is actively managed by Investec.

Regulation

Healthy Investment is regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Its members are covered by the Financial Services Compensation Scheme (FSCS) which guarantees investors 100% of all their investment with the Society without limit.

Healthy Investment is a member of the Association of Financial Mutuals.[4]

References

  1. ^ http://www.sda-llp.co.uk/case-studies/healthy-investment-and-the-retail-distribution-review/
  2. ^ http://www.healthyinvestment.co.uk/about_us/a_glorious_history.php
  3. ^ http://www.burytimes.co.uk/news/business/2315531.bury_is_ideal_base_for_friendly_society/
  4. ^ http://www.financialmutuals.org/
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