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ID #1101

asue

/eysuw/ [cf. Trin. sou-sou cooperative savings (Ottley 23), Cam. susu , isusu thrift and loan society; from Yoruba èésú, èsúsú thrift club DYL. Among the Yoruba "Esusu is a universal custom for the clubbing together of a number of persons for monetary aid. A fixed sum agreed upon is given by each at a fixed time (usually every week) and place, under a president; the total amount is paid over to each member in rotation. This enables a poor man to do something worthwhile where a lump sum is required." (Johnson 1921:119)] n. a cooperative savings system: 1976 The asue was a system of saving money, and financing. . Small groups of people would place in the hands of asue keepers an equal sum of money every week; this was called a hand. Each week one of the participants was given the sum total of all the hands and this was repeated each week until all hands were drawn, and then the process started all over again. (Eneas 17). 1982 First Home proudly introduces The Asue savings plan account. Throw as often as you like; throw as many hands as you like (Guardian, Jan. 23). (Black)

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Last update: 2011-02-12 14:26
Author: Holm and Shilling, DBE, 1982
Revision: 1.1

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