The COI "SuSu" Fund
1st collection will be from Nov. 14th to Nov. 30th, 2010 IS NOW CLOSED.
Seven families and individuals have become our first Susu Bank: Aleph Susu (Susu A).
Most High willing, they have made a commitment to give $20.00 a month for the next seven months, until all families have been blessed with $140.00
Members can send in their donations anytime during the month, if a payment is not received by the 25th of the month, the member will be considered untrustworthy and will not be able to participate in future susus.
A Name of one of the participants will be drawnon the first Sabbath of each month and annouced during sabbath fellowship and via growing stone community yahoo group.
THE SUSU SYSTEM IS OPEN, TO BEGIN A SECOND SUSU BANK (BET SUSU), WE WILL NEED AT LEAST A GROUP OF 5 PEOPLE TO BEGIN.
What is a "SuSu?" - Susu is the collective collaboration of people who pool their resources, fiances, and time together for the beenfit of those in the pool, or for each participating member when his or her time comes to purchase or acquire goods.
What is the basic philosophy of the Susu? - the foundation is community togetherness, pooling resources for the enrichment of the total community, trust and honor, depedability and dedication.
What is the attitude of the Susuist? -The attitude was and still is, that one must put his or her people first, and one is merely a part of something greater, the people. The sussuist wants to trade with those who are of his or her immediate community first, and make his neighbor economically stable before he takes his business to another community to make the people over there better off, while his own community suffers economic stagnation.
* A Susu pool is a serious matter. Those who constantly change their mind, or are not sure about their financial position should not join a susu because by being unsure, others in the susu who are certain and dedicated to the cause and goal of economic and financial empowerment will be held back.
For example, if a group of ten people decide to form a susu so that members can have access to money for various reasons, they would follow these steps: *(If the group agreed to give another $2,000, each.)
a.) All members put in an equal amount of money per month, such as $100.00 dollars per month.
b.) A total of $1,000.00 will be collected every month.
c.) Susu member John, who is first on the list to receive the collected amount, needs a $2,000 dollar amount to use.
d.) Because John is first on the list of ten, he receives the two thousand dollars in two months.
e.) John continues to put in 100 per month while the next person on the list waits to receive $2,000, two months after John receives his.
F.) Mary, the second in line continues to put one hundred dollars in the pool and the third person on the list gets his amount when his turn comes up. This goes on until the last person on the list gets $2,000.
The amount allotted to each member of the pool must be equal and may rise or decrease depending on how much each person puts in. For example, if the amount is raised to two hundred dollars per month, then each memer will recieve two thousand dollars per month or $4,000 every two months . I t is essential that each member of a susu group continues to add to the pot even when it is not his turn to get the money collected in the pot.
Susu is trust and commitment. Before a group of people decide to put their monies together in a susu, everyone must be certain that he or she will be true to his or her oath, to be sincere, truthful, honest, and dependable. In cases where a person cannot supply money to the pool, but he or she wants to remain a member, an agreement must be made between himself and the other members of the pool to each pay a portion for him until he can repay it, and return to the susu as a paying member.
Members of a susu can agree to pay another's share in the pot if that person will pay it back as soon as he or she gets back on his or her feet. For example, if person number 1 cannot pay $100 per month for about four months due to lack of job or money, each of the other nine members of the pool must add in at least eleven dollars and elevan cents to teir individual amount of one hundred dollars per month to make up for the one unable to add to the pool. If that person leaves the pool, the money goes back to those who contributed to the pot.
The person who could not contribute to the pot because he or she was unable to do so, must pay back what was loaned to him or her, plus the usual amount of one hundred, or two hundred dollars per month.
The more money a person or group adds to it, the more money each member will get when his turn comes to get what is in the susu pot. Susu is organized so that a person is made treasurer and keeps the accounts while the money is kept in a susu bank, or a reliable bank.
The COI Susu Fund Rules and Terms of Agreement
1. All monies put into the susu are nonrefundable.
2. All members are expected to give their promised amount (scripture) for the duration of the their Susu cycle. (a cycle depends on the amount of people involved and how much monies are agreed to be received, ex. 10 people (@$10 each)=10 month cycle, if want to receive $100 each.)
3. All monies will be placed in a Congregation of Israel, Knesset of Jesus, Inc. bank account. Account of monies paid in and distribution will be kept by the organization's accountant and susu book-keeper,
4. The person who's time it is to receive the pot, will receive a certified check from The Congregation of Israel, The Knesset of Jesus, Inc. Their name will not come back up on the list until all in the susu has received their share of monies.
5. To begin a susu, there will be a minimum of 5 people who are willing to put in at least $20.00 each.
6.After susu cycle is over, those beginning anew, can increase amount to give or to be received, for the next cycle.
7. Monies will be collected from the 1st to the 28th of the month and will be annouced on the 1st of the next month. The check will be sent to the person within 7-10 business days.
8. monies are to be used for whatever the person's wish to use it for. please, no unlawful (God's or man's law) activity.
9. For details of any other commitment, please see above Susu description, philosophy and concept.
10. An individual can send their contribution via money order, written out to The Congregation of Israel, Re:susu fund
or through paypal, if sending through paypal, please send $21.00 (instead of the required $20.00), because paypal will take a percentage for the transaction.
To apply, fill out a membership application here:
If paying by paypal, send application via email to deidra_emel@yahoo.com.
If paying by money order, print application and mail the application and money order to:
The Congregation of Israel
333 Massachusetts Avenue
Buffalo, NY 14213
Re:susu