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In 1875, a group of Quakers, residents of Millville, secured a charter to provide affordable insurance to area families and their homes, barns, factories and shops. Big city firms had little interest in providing insurance in the rural areas of Pennsylvania, but the need existed. Already 100 years old, Millville was a bustling lumber and farm town of 400 people. The company they founded was organized as a mutual insurance company, a concept originated in England in 1696. Unlike stock insurance companies, which are owned by investors who may have no other connection with the company, mutual insurance companies are owned by their policy holders. Policyholders vote for members of the company's board of directors. Policyholders also may receive special dividends or reductions of policy premiums. Unlike stock companies, mutual companies exist solely to serve the insurance needs of their policyholders. The company's founders were a close knit group. The first president, Joseph W. Eves, served in that capacity for the next 37 years. Secretary Ellis Eves served for 36 years, and treasurer William Masters would serve continuously in that role for 42 years.