In the News
For Immediate Release
CONTACT:
Carleen Martin
http://www.oursusu.com
478.227.7878
media@oursusu.com
OurSusu.com: A New Look at an Old Method of Peer-to-Peer Lending
King of Prussia, PA, October 22, 2009 – OurSusu.com has entered the peer-to-peer
lending market. Instead of lending and borrowing money with people you do not know,
OurSusu.com lets you save with those you do. In banking terms, a Susu is a Rotating
Savings and Credit Association (ROSCA). OurSusu.com provides the security and
technology to empower small communities to save and lend money on their own terms.
How It Works
A Susu is comprised of a circle of savers. For example, a Susu may have 10 members who
contribute to the Susu for 10 months. Each month, each member contributes $100 to the
Susu. Therefore, every month the Susu is worth $1,000. Contributors decide the order
that each member will receive the $1,000 monthly payout. All members continue to pay
throughout the 10-month period. Because of this, members get out of a Susu what they
put into it. It allows people to save and lend without having to approach large financial
institutions. Because money is deducted via Automated Clearing House (ACH), on
OurSusu.com, the process is easy. Our Susu’s use of Trustwave ® and IDVerify™ keeps
information safe and secure.
The History of Susu
Throughout history, and depending on where it has been used, a Susu might have been
called a hui (China), tanda (Mexico) or kye (Korean). A Susu, as the process is known in
parts of Africa and the Caribbean, works because everyone saves and lends together.
Small communities have used Susus when funds from larger institutions were unavailable.
About OurSusu.com
Founded by Carlton Langley, OurSusu.com is dedicated to improving the saving habits of
Americans.