http://www.gdrc.org/icm/partner-sys.html
A popular form of savings system in Jamaica is the "Partner", which is called by many different names elsewhere in the Caribbean and is also found in many other parts of the world. It is often described as a form of capital accmulation. A Partner is basically a partnership among people to save collectively. Usually an established member of a community manages the partnership and is referred to as "the banker". Often a banker is a woman. The partners contribute a regular sum daily, weekly, fortnightly or monthly basis. Every day, week, fortnight or month, one member of the partner receives the total amount contributed by the partners over that period., less the equivalent of one contribution, which is given to the banker as payment for the banker's services. The banker determines the order in which members can make their draw and will normally give the priority to the more established and trusted members, leaving those who are least reliable till the last. An early withdrawal is effectively equivalant to a loan and there is often a confusion as to whether the "partner" is a savings or loan system for this reason.

HTH!



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Note added at 2 days3 hrs (2009-03-08 19:15:01 GMT)
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Clarification:

The partner system here is an informal one – it is stay-at-home mothers or working mothers wishing to supplement their incomes (usually with an objetive in mind, e.g. next year’s school fees or food for Christmas) – and usually in the poorer communities of the ilsand.

Perhaps the reference was misleading, but it is not an organized, business as we know it. It is not that the money is raffled – what is raffled, per se, is the draw for each person (for example, twice a year, depending on the number of persons in the partner (as few as 6 up to 30-40 persons), or an informal arrangement can be made where one person wants the money for a child’s birthday party).

The partner scheme here is very informal and they do meet over cookies and milk/coffee or even on the roadside to collect funds! In fact, it is built on trust and faith (and here too it is on honor) and often times, there are instances where a partner cannot pay for the month, so the money is trusted!

But, where I have a difficult understanding your note is there must be "someone in charge", in an unofficial capacity, of securing and holding the funds for other partners. I see very little difference in your term vs. the "partner" agreement. I am perplexed.

I agree that perhaps you should leave the term "cuchubal" and add a translator's note (I merely offered a possible, and I believe plausible explanation/alternative for your translator's note - a way of describing the inner workings of the "cuchubal").

Suerte.