Stokvels are clubs or syndicates serving as rotating credit unions in South Africa where members contribute fixed sums of money to a central fund on a weekly, fortnightly or monthly basis. Each month a different member receives the money in the fund, which was collected during that period, with no one ever defaulting on contributions. The members can then use the collected fund for their own use, either for payment or investment purposes. These stokvels have been a target for various investment houses in South Africa, hoping to bring these informal saving schemes into the main stream financial world. Having said that, the stokvels are still very much a part of black South African communities and will probably do so for a number of years to come.