BCAC SUSU CYCLE IX “WE ARE ABOUT EDUCATING OURSELVES ON TRUE COLLABORATION AND TEAM BUILDING!”

Successful

This campaign successfully reached its funding goal and ended 3 years ago

115% Funded
  • $403 Pledged
  • $350 Goal
  • 13 Backers

BCAC SUSU CYCLE IX

This is the 9th CYCLE of the Black Communities Action Committee Susu, All members must make a  minimum contribution of  $22. A suggested amount of $35 will also be accepted starting December 9th, 2015 and ending January 7th, 2016, a total of 30 days.

What is a susu? Today it might be referred to as a micro-lending group. In rural communities susu’s are created when people don’t have access to traditional bank loans. Everyone contributes an equal amount and then each round the pot or kitty is rewarded to a participant. The success of a susu is contingent on continued participation of it’s members. At this time we have lent out funds in excess of $1,700 to eight  members, we have  fully invested contributors who see the vision!We are the possibility of bail and burial money, building funds, home rehab, repair funds and more.

All participants are required to participate in every cycle &/or  suggested 12 consecutive cycles and to be completely invested (meaning they have reinvested their entire reward ) if they wish to receive a timely payout. If a participant neglects to make a cycle payment, they forfeit the money contributed to the SuSu, but always have the option to return to their respective cycle after a skipped payment as long as the susu exists and the cycle members agree. Susu withdraws will be less campaign costs. Susu recipients should propose a payback bonus that at a minimum should cover campaign costs, at a maximum 20% on top of the amount loaned. Again the susu recipient agrees to continue in the Susu for 12 months after the receipt of the susu proceeds or until their payout is reinvested in full. Black Communities Action Committee is a national group of individuals who are about ACTION to change their communities and African communities world wide. We understand money works over time and is a key component of nation building, we ACT locally and support each other in economic and social justice pursuits. We are about educating ourselves on true collaboration and team building. You must be willing to engage in activities that strengthen us as a group.

NEW MEMBERS PLEASE TAKE NOTE-If this is your first contribution to Black Communities Action Committee susu, please forward your email address to phillychildcare@aol.com. Request to join our facebook group by including your facebook address so we can friend you. We require all new members to participate in our “Make It Rain” exercise, which is to send $1 to our groups selected community based project, details will be provided upon your group membership approval!  Our snail mail contact is Monica Wright, 3125 Reach Street, Philadelphia, PA 19134 or you can call 267-242-6304

BCAC SUSU CYCLE IX

“WE ARE ABOUT EDUCATING OURSELVES ON TRUE COLLABORATION AND TEAM BUILDING!

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