Popular in Latino community, money pools a community approach to lending (Cronkite News)
September 20, 2013
Group commitment is key to the success of money pools, according to Donelson Forsyth, a psychology professor at the University of Richmond’s Jepson School of Leadership Studies who is an authority on group dynamics.
“They key is that they are interdependent,” he said. “If one person defaults, all are injured. If they were all saving individually, it wouldn’t have the same magical effect on their overall performance.”
---