Our 14 step Quick Savings Club not only forces you to save in a group. It allows you the financial freedom to raise capital and the speed of obtaining credit, without a credit history or collateral. It gives you quick access to ready cash in emergency situation. It makes credit easily available and you will be able to use your draw for both for personal and business purposes.
Members contribute a payment, or throw a hand, on a regular basis, usually weekly or monthly.
The banker consolidates all payments for that week or month into a draw.
Every week or month, one member of the partner receives the total amount contributed by the partners over that period; less the equivalent of one contribution, which is given to the banker as payment for the banker’s service.
Membership remains fixed throughout the duration of partner, which disbands after each member has received a draw.
The banker will start up another partner the following week, and at that time, new members may be added and prior members may drop out.
More than one individual may share in the purchase of one hand. (½ hand).
Members may also belong to more than one partner at the same time.
Members may throw multiple hands.
For the last member to receive the draw, the system amounts to a savings arrangement, as the member simply receives a return of all hands thrown.
For the first member to receive the draw, the system is almost entirely a credit arrangement (minus the member’s own hand thrown for the week).
For members elsewhere in the rotation, there are elements of both savings and credit, and the earlier the draw, the higher the credit element.
No interest is paid on savings, and no interest is payable on credit. Additionally, all transactions are in cash.