The Rotating Savings and Credit Association (ROSCA) and Economic Growth
They are Community, Transparency, and Empowerment! They champion diversity and inclusion; they are open, honest, and legalize growth and prosperity. A Rotating Savings and Credit Association (ROSCA) was formed in 2021 upon a core of participants who agreed to make regular contributions to a fund given to each contributor. The funds rotate each cycle until each group member has had a chance to receive the collection of funds. Contribute and Payout in USD.
Social Savings Club announces its social rotation savings and credit association to the general public. The social savings club will also be launching its new mobile app to enhance flow of work. They believe in the power of people and believe in placing the power of banking in the hands of the consumer.
They have many social benefits associated with this group. The primary objective is to achieve the group’s financial goals; the community arranges meetings to avail networking opportunities, business opportunities, and social aspects of bringing family, friends, future friends, and associates together. Early examples of ROSCAs appeared in South America, Africa, and Asia.
Indemnity and commitment to the group are essential for the ROSCA to be sustainable, mainly achieved through social enforcement and trust. Members feel more potent as an individual when they are a part of a group. Moreover, the mobile app serves as a guide for any latest update in the community. With the mobile app, every member can have access to their portal from the comfort of their home.
The most significant advantage of setting up a savings club account is behavioral, as, in effect, they make saving automatic and similar to paying a bill. This way, savings club accounts force the savers to make regular contributions to an account towards a specific goal or schedule. In this way, savings clubs, in theory, should reduce reliance on credit cards and other debt instruments for such purposes.
We invite and welcome you! Make a one-time contribution, auto recontribution/reinvest, for endless payouts. To become a member and enjoy the benefits, visit the website below.
Company Name: Social Savings Club
Contact Person: D. Sylvester
Email: Send Email
Country: United States