Teachers Assurance is a friendly society

Friendly society

A friendly society is a mutual association for insurance, pensions or savings and loan-like purposes, or cooperative banking. It is a mutual organization or benefit society composed of a body of people who join together for a common financial or social purpose...

 in the United Kingdom

United Kingdom

The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...

. It offers tailored savings, investment

Investment

Investment has different meanings in finance and economics. Finance investment is putting money into something with the expectation of gain, that upon thorough analysis, has a high degree of security for the principal amount, as well as security of return, within an expected period of time...

 and insurance products for those employed in the education sector. It is the endorsed provider of financial advice to members of the National Union of Teachers

National Union of Teachers

The National Union of Teachers is a trade union for school teachers in England, Wales, the Channel Islands and the Isle of Man. It is a member of the Trades Union Congress...

 (NUT) and their families.

Teachers Assurance was founded by the NUT in 1877. It is unrelated to the Teachers Building Society

Teachers Building Society

The Teachers Building Society is a British building society. It was founded in 1966 by the National Union of Teachers and provides mortgages to people who work in education as well as savings products to the general public...

, which was also founded by the NUT.