Cirencester Friendly has established the Cirencester Friendly Society - 125 Foundation; supporting community activities nominated by members and affiliated advisers.
The foundation was launched to mark the 125th anniversary of the Society, providing individual awards of up to £500 aimed at combating hardship and aiding self-improvement.
It is envisaged that 10 personal grants will be made each month and there will also be biannual awards of up to £25,000 for community projects.
Acceptable awards in both categories are likely to be those linked to health, education, sport, hardship alleviation and support for the sick and disabled.
Cirencester said this is not an exhaustive list and all nominations from Members or their affiliated advisers will be considered.
Further donations to suitable causes could also be made at the discretion of the society.
Nominations will need to meet certain criteria and the Foundation committee will verify all nominations to ensure validity.
Paul Hudson, chief executive of Cirencester Friendly said: "We are reaching the end of Cirencester Friendly's 125th anniversary year but the establishment of the Cirencester Friendly Society - 125 Foundation ensures the enduring legacy of this important milestone.
"As a mutual organisation that cares for its members beyond mere contractual provision, we are thrilled that we will be able to support people and projects that are important to our members. This is at the very heart of our ethos."
