sou-sou


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sou-sou

(ˈsuːsuː) or

susu

n
1. (Anthropology & Ethnology) Caribbean an arrangement made among friends whereby each person makes regular contributions to a fund, the money being drawn out periodically by each individual in turn
2. (Banking & Finance) Caribbean an arrangement made among friends whereby each person makes regular contributions to a fund, the money being drawn out periodically by each individual in turn
[probably of W African origin, influenced by French sou small coin, via Creole]
References in periodicals archive ?
Sou-sou, the ancient, informal savings system popular in many parts of West Africa, has come to America, where an African immigrant is reinventing and revamping it.
It's clear the sou-sou system has survived and been such a success in West Africa for this long because it allows enables a member of a sou-sou savings club to achieve in a few weeks what it would take them a whole year and more to do bythemselves.
He set up a website, sou-sous. com, for what he claims are the million or so Africans in the US who are members of a sou-sou club and who would welcome the opportunity to see sou-sou online.
You can now, using Bill Gwanyalla's sou-sous.com portal, join a club, be cleared for membership, and deposit your sou-sou cash in an online account in a matter of minutes.
Now all it takes is a click of a mouse for a person to apply to join a sou-sou club in, say, Texas or Georgia or anywhere else in America they choose.
If all this sounds less safe and secure than simply gathering at the home of a fellow sou-sou club member and then depositing your money in the hand of the club's manager, Bill Gwanyalla says this is not so.
He always worried that when he was meeting at a sou-sou event, where there was often as much as $24,000 in cash present, that he and other sou-sou members were making themselves targets for robbery.
"I wanted to take sou-sou, something that West Africans have been using for years, into the technological era, and make it modern."
But sou-sou traditionalists have misgivings about these digital developments.
Great examples of this were the black mutual societies that led to the creation of black-owned banks and insurance companies, as well as sou-sous and similar group savings systems once popular among Caribbean Americans and other people of color who had limited access to affordable credit.
In the center work, which includes pas de bourees, sou-sous, and port de bras, Miss Lynn encourages precision without frustration or mannerisms.