ONE of East Lancashire's oldest organisations is set for a major expansion programme.

The Blackburn Philanthropic Mutual Assurance Society -- one of only a handful of active Friendly Societies in the North West -- is set to undergo a series of changes to raise its profile,

The organisation -- more than 135 years old -- is being incorporated as a business from next year which will enable it to offer new financial products and services.

The organisation is also looking to set up commercial alliances with firms throughout the area to capitalise on its unique position.

Despite the move to expand the orgnaistion it will remain a 'Friendly Society' -- one which is owned by its members. It doesn't have shareholders and profits made each year are distributed to members in the form of bonuses added to their savings and investment. To mark the changes the society is changing its name to the Red Rose Friendly Society.

"We felt that the old name was seen by people as being old fashioned and many people didn't know what philanthropic meant," said Tom Patton of the society.

"We also believe the change will help people understand what we are. People pass our building in Preston New Road every day but many of them don't know what we are all about."

The changing image of the society will see it offer a wider range of financial products.

"Incredible opportunities exist for the friendly society movement as a whole and we believe we are ideally placed to take advantage of them."

Now that a new name has been chosen the society is asking for help from local schools and colleges to design a new logo for the society, with the prize of a computer package.

Further details are available from the society on 01254 505808

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