1. Tanomoshi: Financial Secret Societies

2. Thesis
The presence of Tanomoshi in Japanese communities serves to solidify social bonds between participants, strengthen morale in ethnically isolated Japanese enclaves, and encourage economic growth and individual financial achievement in the private sector.

3. What Is Tanomoshi? Informal credit and loan associations
Membership usually organized along ethnic lines
Meets monthly
All members contribute the same predetermined amount at each meeting
Rotating pay-out system
Continues until all members have been paid
Remaining funds allocated amongst members
Peer pressure

4. Origins Meiji Period Early 1900s Resurgence Practice transplanted to
U.S., other countries

5. Tanomoshi in Early Hawaii
Former laborers had savings
Lacked funds to buy large appliances and property or start businesses
Banks refused immigrants loans
Tanomoshi instituted by word of mouth
Became “one-stop” source for desired funds
Tradition passed from one generation to next
Exists to present day

6. Locals Reminisce
“Tanomoshi was a(n) integral part of family financing.”-Katsugo Miho, owner of the Kahului (Miho) Hotel
“They need money (my parents)… so got to make tanomoshi to borrow from all the friends.”-Anonymous interviewee whose parents purchased a boat using the Tanomoshi system
“From two tanomoshi I draw $1600. The first time I buy an electric stove and refrigerator and my neighbor and I… we’re so happy we cry.”-“Mrs. K”, Korean picture bride

7. Locals Reminisce
“Tanomoshi is where they (members of the Asian Community) loan money to each other. They meet once or twice a month and give it to each other. That’s how Frank (former husband) got his money. He was Okinawan. The Okinawans used to do that a lot.”-Kikue Roumain, former Moiliili resident and past owner of the Fair Grill restaurant in Nuuanu (a business started with Tanomoshi funds).

8. Legacy
Sueoka’s
Miura Store
Preponderance of modern credit unions

9. Hawaii: America’s Credit Union Capital

10. A Global Phenomenon
Exists in most American states with significant Japanese populations
California is most notable
Also in Peru, Brazil, Argentina
Korean, Chinese, Vietnamese, and West Indians all have own systems

11. Other Areas of Interest
Percentage of businesses started using tanomoshi
Percentage who use(d) tanomoshi

12. Sources
Interview with Kikue Roumain. Conducted Dec. 1, 2010.