A Rotating Savings and Credit Association (ROSCA) is a group of individuals who act as an alternative financial institution. Each person contributes money towards a common fund, and the funds rotate through members at regular intervals. The member who borrows the funds will eventually repay their portion back into the association so the next member can withdraw their share.
ROSCAs consist of the regular pooling of money among friends and neighbors. It’s a way for individuals to amass chunks of money and is relied upon by millions of Black women in Africa, the Caribbean, and North America as a trusted alternative to formal banking systems that often exclude them.
The Banker Ladies tells the stories of Ginelle, Aisha and Mabinty, three Black women in Toronto creating diverse financial services for their communities through Rotating Saving and Credit Associations (ROSCAs).