I understand the idea/concept but there are so many issues to consider:
Who is responsible for collecting the funds?
What actually constitutes an emergency for withdrawal?
What happens when members get upset (and they will) because someone is denied money? or even given money?
There are a ton of potential problems with setting up a fund of this type. I know that all of your hearts are in the right place but I suppose it is my job to raise the red flags. |