Definition of purse club in English:

purse club

noun

British
historical
  • (In the 18th and early 19th centuries) an association existing for the mutual aid of its members, who pay regular subscriptions to insure against future need; a friendly society; a guild.

Origin

Late 18th century; earliest use found in James Woodforde (1740–1803), diarist and Church of England clergyman.