Caribbean-American Communities can thrive during the pandemic without sacrificing their health.
If you had to place your Susu on pause or cancel during the pandemic, here’s an app that can help you from the comfort of your home.
Now available, Prana Circle enables users to participate by reaching out to other friends, family, colleagues, church buddies, and like-minded acquaintances to join your savings group. People shouldn’t have to expose themselves unnecessarily in today’s COVID-19 environment. With Prana Circle, they won’t have to. This smartphone app automatically performs all transactions without the need to meet in person, or touch cash.
Prana Circle has taken the basic Susu practice and modernized it for use on any Apple or Android phone. It simplifies the member payment process and streamlines collections and payouts for Susu organizers. Everything is automated, and record-keeping is a cinch.
“Susu” is a generations-old savings practice used by different cultures all over the world. It is also known as Pardna, Sou sou, or Sould (to name a few). Trusted circles of people pool their money, then take turns using the entire pot of money. Susus can help people buy anything from consumer products like TVs to down payments for a new house.
Prana is a community-based savings app where you don’t save alone. The peer support keeps you on track with regards to putting money away and gives you the freedom to take out your savings earlier for a short term financial need like a medical bill or a vacation.
Prana Circle automatically performs all financial transactions without the need to meet in person, or touch cash. You can organize a Susu remotely without the fear of any COVID -19 exposure. Draw dates are given out on a first come first served basis based on the order of invite acceptance The organizer is not involved in dispensing the draw dates and has one less thing to worry about. What’s also great is, every week or month on the draw date, the money is directly debited from the contributor’s account and goes into the recipient’s account.
Since it is all automated, no one forgets to make a payment and the organizer doesn’t need to nag anyone.
“Since launching the app, we’ve realized how much Prana Circle could benefit susu practicing communities. So many families continue to participate in susus to secure their finances and are exposing themselves to COVID. With Prana Circle, you don’t need to do that. You can move your favorite susu into Prana Circle, eliminate potential exposure, and make it easier to implement.”, said Shagun Singh, co-founder of Prana Circle.
Visit us at pranaapp.com for more information.