Scottish Amicable Building Society

It faced a run on its funds in 1958 and was rescued by the Co-operative Building Society.

It remained of very modest size until after WWI – in 1922 there were only 416 members and assets totalled £86,000.

The subsequent growth in the Society stemmed from the recruitment of William Allison in 1921 as manager.

There were district offices in Aberdeen, Ayr, Glasgow, Dundee, London, Birmingham, Liverpool and Manchester; beneath those were 13 chief branches offices in Scotland, 14 in England and one in Belfast followed by a further 104 ordinary branches.

Ashworth described the Scottish Amicable as “a well-educated and sound society whose only trouble was that it made investments in undated and long-dated gilt-edged securities that had fallen in value owing to the rise in interest rates”.