About Us

We Are

A Rotating Savings and Credit Association (ROSCA) made up of a community acting as an alternate financial vehicle. A ROSCA happens via set contributions and payouts to and from a common fund. While the primary objective is usually to achieve the group’s financial goals, ROSCA meetings can also provide opportunities for networking, business opportunities, and social aspect of bringing family, and friends together. In many places, meetings happen according to the community’s rituals. 

Bond Creation

Creating a Strong Social Bond

Indemnity, and commitment to the group are essential in order for the ROSCA to be sustainable, and this is mainly achieved through social enforcement, trust, and re-contribution. Social capital is a set of shared values or resources that allows individuals to work together in a group to effectively achieve a common purpose. Members of a ROSCA feel a stronger connection within themselves as compared to the rest of the community. Members feel stronger as an individual when they are a part of a group! 

 

Our Mission

To create a member only platform where people come together, save, build generational wealth, and socialize with other background verified peers. To create and continue social capital within each and every member. 

Our Vision

Social Savings Club is formed to use technology to put the power of saving and building capital into the hands of trusted communities across the globe.

ROSCA

Example of a ROSCA

One may establish a ROSCA rotation position for the contribution amount of $1,000. In this case, the ROSCA organizer could gather four trustworthy members and require each of them to contribute $1,000 to the fund. At the end of the first rotation cycle, the first member entering the rotation cycle would reach a goal of $4,000. In the second rotation cycle, another member would take home the next $4,000. This would continue until everyone has a turn with the proceeds. At the end of the fourth cycle when everyone has had a distribution, the ROSCA would disband or begin another round. The organizer or group leader generally receives the first distribution, with successive distributions determined by order of assignment in the rotation cycle and group.