Rotating savings and credit associations (ROSCAs) are informal financial systems found across the globe where a group of individuals periodically pool their money and give the lump sum to one member at a time on a rotating basis. Depending on where you and your family are from, you may know this savings mechanism under a different name:

Caribbean & Latin America

• San – Dominican Republic and parts of the broader Caribbean
• Susu – Trinidad and Tobago, Jamaica, and several other Caribbean nations (derived from the Yoruba word esusu)
• Pandero – Peru
• Cundina or Tanda – Mexico
• Pasanaku – Bolivia
• Cuchubal – Guatemala and Honduras
• Comite – Honduras
• Gota-gota – Colombia (though this can sometimes refer to informal daily lending rather than pure ROSCAs)
• Sociedad – Cuba

Africa

• Tontine – West Africa (particularly Senegal, Mali, and Cameroon) and parts of Central Africa
• Esusu or Ajo – Nigeria (specifically among the Yoruba and Igbo communities)
• Stokvel – South Africa (a regulated form that often functions as savings clubs or ROSCAs)
• Equub (or Iqub) – Ethiopia
• Chit or Kireba – East Africa (Kenya and Tanzania)
• Yuu – Tiv people of Nigeria
• Djanggi – Cameroon

Asia & Middle East

• Hui (会) – China and Taiwan
• Tanomoshi (頼母子) or Mujin (無尽) – Japan
• Gye (계) – South Korea
• Arisan – Indonesia
• Paluwagan – Philippines
• Chit Fund – India (though traditionally regulated with an auction element, informal community variations exist)
• Committee or Beesi – Pakistan and Northern India
• Rosca – Middle East

Other Regions

• Wara'a – Arabic-speaking communities
• Sanduq – Various Middle Eastern and North African contexts
• Rosca – General economic literature

Whether you are new to the world of rotating saving programs or an experienced participant, we are here to help you achieve your savings goals!

— Jay Sherwood