Savings club (provident society)

A group of people who have joined together to achieve a specific savings goal. – As a rule, savings are made – for an event (event: Christmas, wedding, longer trip) or – to support a project (financing a project: construction of a monument, well in a mission station in Africa). In the 19th century savings associations were common; today they have become rare. Insofar as the savings goal is the acquisition of residential property, building societies have taken the place of the corresponding associations, which are often limited to a single location. – In Austria, the establishment of a savings association is subject to notification; the founder of the association (proponent; proponent) must obtain a permit from the security directorate of the province concerned. – See investment club, association account.

Attention: The financial encyclopedia is protected by copyright and may only be used for private purposes without express consent!
University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
E-mail address: info@ekrah.com
https://de.wikipedia.org/wiki/Gerhard_Ernst_Merk
https://www.jung-stilling-gesellschaft.de/merk/
https://www.gerhardmerk.de/