I’m Due to Draw Last in Our Twelve-Person Pardner, and One Member Has Already Missed Twice

A reader writes:

I am building my house in stages. The walls are up to the belt course and the next big step is the roof slab, which I cannot do from my salary alone. Last year a lady at my workplace invited me into a pardner she runs. Twelve of us, each throwing a hand every month, and each month one person draws the full amount. She is the banker and she keeps a little exercise book with everybody’s name and date.

I asked to draw last because I thought it would give me time to get quotes and buy materials slowly, and because honestly it felt like the safest way to save. The draw at the end would be exactly what I need for the slab.

Now I am worried. One of the members, a young man who already drew in month three, has missed two payments since then. The banker covered him once out of her own pocket and she says he promised to catch up. The second time she did not cover it, and the draw that month was short. The person who drew that month was vexed, and there was a big quarrel in the staff room. The young man says he lost his second job and will pay when he can.

I am month twelve. If he stops paying altogether, or if anyone else drops out, my draw will be short, and I will be the one left with nothing to show for a whole year of hands. I like the banker and I don’t want to cause trouble. But I also cannot afford to lose this money, and I don’t know what I can do about it. Should I pull out? Can I even pull out? I feel foolish for not thinking about this before.

— Andrea, St James

Our response

Andrea, you are not foolish. Pardners and similar savings circles have helped generations of Caribbean families put on roofs, pay school fees and start businesses, and they work because people trust one another. But that trust is exactly what makes the last positions the most exposed. You have noticed a real risk early, which gives you time to act calmly.

Talk to the banker first, privately

Before anything else, speak to the banker on your own, kindly and directly. You might ask: What is the plan if he cannot catch up? Has he agreed a way to repay what he owes? What happens to the last draws if someone drops out? You are not accusing anyone. You are asking the questions any member in your position would be entitled to ask.

Suggest the group writes down its rules

Many pardners run on unspoken understandings until something goes wrong. It may help the whole group to agree, in writing, what happens when a payment is late, whether someone who has already drawn can be asked to repay in instalments, and how shortfalls are shared. A simple signed list is better than a quarrel in the staff room.

Consider your options

• Stay in, but keep records. Note each payment you make, the date and who received it. If there is a dispute later, you will have your own account.
• Ask to swap positions. Another member who does not need money urgently might trade with you for an earlier draw.
• Ask about leaving. Whether you can withdraw and get back what you have paid depends on your group’s rules and the banker’s goodwill. Raise it gently if you truly feel the risk is too high.
• Keep a back-up plan. Carry on saving a little separately, perhaps in a credit union, so that a short draw does not stop the slab entirely.

Think about the young man too

Losing a job is hard, and he may be ashamed as much as unwilling. A realistic repayment plan, even small amounts, is better for everyone than silence. The group may be more willing to be patient if he is honest about what he can do. Grace and accountability can travel together.

For next time

When you join any informal savings group, it is wise to know the members, agree the rules at the start, and not put in money that your building plan depends on entirely unless you would be able to cope if the draw came up short. Informal groups do not carry the protections of a bank or credit union, and if a serious amount is lost you may want to speak to an attorney-at-law about your options.

Proverbs praises the one who looks well to the ways of her household (Proverbs 31:27). Asking careful questions about your money is part of that. Do it with a gentle tongue, and pray for the young man and for the banker, who is probably more worried than she lets on.

This article is general information only and is not financial, legal, tax or other professional advice. Please speak to a qualified professional about your own circumstances.

Reader letters may be edited for length and clarity, and names and identifying details are changed.

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