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What is the correct word to use when a group where usually coworkers/friends pool money together and then each gets a turn at the pot.

For example, 5 participants each contribute $100 each for 5 months, so each gets a turn at getting the $500 for one of those months.

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  • It sounds vaguely like an "office football pool".
    – Hot Licks
    Oct 16, 2016 at 1:40
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    It sounds even more vaguely like a Ponzi scheme! Oct 16, 2016 at 4:38
  • Is there a word for it in your language? What is it?
    – Mitch
    Oct 17, 2016 at 14:09
  • @Mitch my language is Tamazight and we use the word "Dart" for it Oct 17, 2016 at 14:12
  • Is the primary purpose for gambling like a lottery where one lucky person wins the big pool (and could possibly win more than once), or is it more for insurance where people are saving together to help out one of them in need who might have lost a job or can't work due to illness, or is it a form of savings/investment like a credit union?
    – Mitch
    Oct 17, 2016 at 14:29

1 Answer 1

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You seem to be describing a cundina, described as:

A small group, anywhere from 5-12 people, will agree to make monthly contributions into a common fund and will proceed to take turns borrowing from that fund, one person at a time. Members do not charge each other interest, as their main motivation to participate is reciprocity.

This description mentions borrowing, but most cundinas are set up so that participants simply take turns getting the whole sum each month.

The word cundina is originally Spanish, but it is being used more and more in the U.S. to describe this kind of micro-lending structure. That said, the word is not yet widely known among English speakers.

See here for more.

Other cultures have their own words for this.

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    Wow. How did you come up with that one? +1 Oct 16, 2016 at 2:55
  • Heard the word on NPR last week!
    – DyingIsFun
    Oct 16, 2016 at 2:56
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    thanks that's the word I'm looking for, is money pool can also be the word for that ? Oct 17, 2016 at 14:13

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