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This is the 19th CYCLE of Black Communities Action Committee Susu. Cycle 19 payee is Brother Clifton McMillion Jr, and if we hustle hard, reach our to our real world circle of family and friends we can also payout to sister Tiffany Jones and sus manager Kenyanda Reddy. We are growing toward THREE payee cycles which means new members move forward quicker! Our success is up to you!
All members must make a $23 contribution starting on January 28th, 2017 and ending March 7th, 2017, a total of 40 days. (Those expecting a $1,000 payout and those who have received a $1,000 payout make a $50 payment instead of the standard $23 payment) Those making a $23 payment can expect a $500 payout in approximately 5 to 6 cycles, your payout is based on the order assigned and member participation. Please share with your friends what the susu has been for you.
What is a susu? Today it might be referred to as a micro-lending group. In rural communities, susus 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 lent out 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 $10,000 to
over 20 members, we have nine loans paid off completely and our
susu is now 2 years old, we've had five $1,000 payout and several
cycles where three payees received a payout in one cycle. We are
the possibility of starting a business, bail and burial money,
building funds, home rehab and repair funds or whatever you can do
with a quick infusion of cash.
All participants are required to participate in every cycle,
if they have an outstanding loan and 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 after a skipped payment as long as the susu
exists. 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.
The susu recipient agrees to continue in the Susu for 12
months after the receipt of the susu proceeds or until the loan
balance is paid 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. Our snail mail contact is Monica Wright, 3125
Reach Street, Philadelphia PA 19134 or you can call 267-242-6304
Our ExecutiveDirector is Sister Shakti Sterner and she can be reached at Kyes311@gmail.com
Here is a video by one of our founding members and an early payee https://www.youtube.com/watch?v=B370x4sN10U
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