Esusu Contribution Agreement

Welcome to Esusu (www.esusu.org), owned and operated by Esusu Financial, Inc. (« Esusu »). In these Terms of Use, « you » and « your » refer to the person using the Service. « We », « us » or « our » also refer to Esusu. Users pay the service fee in addition to the user`s contribution to their group fund. For example, if a group of three (3) users has a mutual fund of $300 per month, each user pays $103.33 per month [consisting of the underlying contribution of $100 per user and a service fee of $3.33 per user]. Esusu operates outside the formal legal and financial system and tends to operate exclusively on an oath of loyalty and mutual trust. This ensures that members of the association who have raised their funds prematurely do not withdraw from the system, causing other members to lose some or all of their contributions. As far as Ajo is concerned, the credibility of Alajo plays a key role in preventing risks and ensuring continued sponsorship. These Terms constitute the entire and exclusive agreement between Esusu and you regarding the ownership of Esusu, and these Terms supersede and supersede all prior agreements or arrangements, whether oral or written, or between you and you regarding such agreements or arrangements. These Terms shall govern the agreement between Esusu and you, to the extent permitted by all applicable laws, regulations, rules and regulations. Where a determination of these conditions or their application to a person or circumstances is invalid or unenforceable for any reason, the remainder of these conditions and the application of this provision to other persons or circumstances shall not be affected, but applied to the fullest extent possible by law.

Esusu is a savings contribution system that has a coordinator who is normally chosen by other members of society to manage the money and hand it over to the other. Members then plan an agreed amount of money for savings in a month. The money is then turned between all the members of the group for a certain period of time. Among the Yoruba, traditional cooperatives, known as Aaro, Owe, Esusu and Ajo, are common. The order in which people can draw the money is usually decided by a vote or consensus.. . .