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43 J. Soc. & Soc. Welfare 121 (2016)
Susu: Captalizing Development from the Bottom up

handle is hein.journals/jrlsasw43 and id is 501 raw text is: Susu: Capitalizing Development from the Bottom Up DAVID STOESZ ISABELLA GrrAu RICHARD RODRIGUEZ FRANK THOMPSON Kean University Susu, a common way of saving money in the majority of devel- oping countries, has migrated to developed nations. Originating in the 18th century in Ghana and Nigeria, susu is an indigenous method of microfinance, benefiting poor and minority groups. Significantly, susu relies on social capital as collateral, enhanc- ing solidarity and building community. When American public assistance programs deny benefits to immigrants, susu becomes an important source of savings. The differentiation of susu from other savings strategies in the United States is explored. Key words: Susu, microfinance, micro small enterprises, finan- cial gain, rotating saving and credit associations Susu is a method for immigrants to establish credit in an economically adverse environment. Historically, indigenous savings strategies represent the continuation of economic self- help, which indentured Africans brought to the U.S. In his iconic text, From Slavery to Freedom, John Hope Franklin (1980) chronicled a resourcefulness borne of necessity, as Africans ad- justed to slavery, relying on custom and solidarity to survive. Ante-bellum mutual aid societies emerged throughout the South to provide health and life insurance, death benefits, and orphanages. Franklin noted that such societies served as im- portant training grounds where Negroes could secure busi- ness experience, and they helped develop habits of self-help that seemed to be more imperative as the new [20th] century opened (p. 289). That these organizations emerged was a testament to human perseverance in the face of unremitting Journal of Sociology & Social Welfare, September 2016, Volume XLIII, Number 3 121

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