The General Staff acutely aware of the need to alleviate the financial distress on the families of deceased servicemen and conscious of the success of CAOGA on behalf of the officers, decided to set up an organising committee in 1963 to undertake the necessary preparatory work to establish an insurance scheme for NCO’s and Pte’s. This committee was chaired by Col W. Donagh and included Comdt J.
Counihan and Capt H. Daly.

The inaugural meeting of the Society was held in the Gaelic Hall, Curragh Camp on 21 Dec 1964. Col W. Donagh presided and he outlined the preparatory work undertaken by his committee. The meeting unanimously elected the following committee:
CHARIMAN:
RSM P. DAFFY 2 FAR

VICE CHAIRMAN:
RQMS J.C MC ALLISTER DEPOT CAV

MEMBERS:
BQMS W. FURLONG CTD W COMD
CPO J. SCANNELL NS
FLT SGT J. MANGAN AIR CORPS
RQMS T. WALSH 1 FAR
PTE P. HYLAND 2 INF BN
COY SGT J. CARLEY HQ E COMD
COY SGT P. DOHERTY 12 INF BN
SECRETARY: CAPT H. DALY AHQ

TRUSTEES:
LT COL J.S. NOLAN
COMDT T. O’SHEA
CAPT W.J. BREWER

The Society was formally established on 01 Jan 1965 with 4,100 members paying a subscription of two shillings (13c) per week. The benefits were £300 (€380) on the death of a member, £20 (€25) on the death of a member’s wife, £10 (€12.70) on the death of a child over 5 years and £6 (€7.62) on the death of a child under 5 years.
On 01 Jan 1980 CAFNBO Spouse was introduced, Membership CAFNBO is a Friendly Society registered under the Friendly Societies Act of 1896 as amended. Membership is open to all NCO’s and Pte’s of the Permanent Defence Forces and their spouse. Applications for membership are placed before the management committee who may at their absolute discretion accept an application or not and determine the commencement date of membership (normally the date of the meeting). Although not compulsory, 99.6% of members of the Defence Forces are CAFNBO members.

Objects of the society:
The objects of the society are to provide by the voluntary subscriptions of the members for the following purposes:

1. the insuring of money to be paid on the death of a member or spouse member

2. the insuring of money for the payment of funeral expenses on the death of a spouse or child of a member in necessitous circumstances.

3. Providing relief of poverty to members when in distressed/necessitous circumstances by way of the Distress Fund.

4. The granting of other assistance to members in necessitous circumstances as decided by the members of the society.

Management Committee:
The Committee consist of 19 members including a Chairman and Vice Chairman who are elected at the AGM. All the major barracks including Air Corps and Naval Service are represented. The committee meet monthly to transact the societies business. The management, control and direction of the policy and affairs of the  Society are vested in the committee subject of course to any statute and the Rules of the Society. The committee keep the members briefed on all developments in the society and encourage personnel to join the schemes. The day to day running of the society is entrusted to the Secretariat who implements the decisions and policy of the management committee.

Trustees:
The trustees of the society must be serving members of the Defence Forces who have consented to act have been authorised in that behalf by the Chief of Staff and appointed by the members of the society. The trustees are responsible for investing the funds of the society.
The value of the fund as on 31 Dec 2007 was €81,000,00,
The trustees also decide on the payment of the death benefits in cases where no valid nomination exists subject of course to the provisions of the Friendly Societies Act.

Subscriptions:
The current weekly subscription is €1.72 for a member and €1.46 for a spouse member. These rates have not changed since 1995. All subscriptions are refundable along with bonus earned on leaving the Defence Forces or on death. After 5 years membership a bonus of 3% Compound Interest is earned on all subscriptions. In addition a Terminal Bonus may be paid to the long serving members where an
actuarial surplus exists at the following rates: 
After 10 years membership 20% of Bonus
After 15 years membership 25% of Bonus
After 20 years membership 40% of Bonus

Benefits:
The society pays the following benefits:
On death of a Member €19,046
On death of a Spouse Member €19,046

Funeral Expenses:
On Death of a Serving member €5,000
On death of a Spouse € 3,174
On death of a child over 5 € 3,174
On death of a child under 5 € 1,270
Since it came into operation in 1965 CAFNBO have made the following payments:
DEATH OF MEMBERS : 743

DEATH OF SPOUSE MEMBERS : 299

DEATH OF CHILDREN: 715

TOTAL: 1757


GANBO
On 01 Aug 1980 a group scheme named Grupa Arachais na mBuan Oglaigh (GANBO) was introduced for members of CAFNBO. Initially underwritten by Canada Life on 01 Jan 2008 Friends First took over as underwriters of GANBO. 98% of CAFNBO members are also members of GANBO. In Apr 1985 a spouse scheme was introduced for the spouses of members of GANBO, this scheme was named Grupa Ceili na mBuan Oglaigh (GACBO). The following benefits are paid under the GANBO/GACBO schemes :

Death of a Member 
                  €150,000      Subscriptions €6.16 p.w.

Death of a Spouse Member 
    €150,000      Subscriptions €4.02 p.w.

Death of Child under 21 yrs (inc Stillbirths)………€ 5,000