Mutual Society Financial Glossary

What is it? An organisation owned by its members and run for their benefit e.g. building societies, friendly societies and some life insurance companies.

Finance Term Definition Added By: Riley

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Other Similar Finance Terms:

Financial Term Bequest is A sum of money or other property available upon the donors death.

Financial Term Loan Repayment Program is A special program available to qualified students who have attended college on federally-funded student loans and who subsequently enlist in the Army for at least three years in any job specialty.

Financial Term Due Diligence is The process of assessing the business and financial viability of a potential investment target, as well as the potential terms and conditions of an investment agreement.

Financial Term Reconciliation is A reconciliation explains how figures are worked out, and shows how they are used in different statements in our accounts.

Financial Term Annuity is A stream of equal payments to an individual, such as to a retiree, that occur at predetermined intervals (that is, monthly or annually). The payments may continue for a fixed period or for a contingent period, such as for the recipients lifetime. Although annuities are most often associated with insurance companies and retirement programs, the payment of interest to a bondholder is also an example of an annuity.