[ 英文摘要 ]

In-depth interview is used in the research. Interviewers are from Yilan and Taipei, including male and female, whether they have attended Rotating Credit Association (RCA) or not. Researcher tries to figure out the differences between generation, district, status, and gender in RCA.

Study shows the life course of RCA. Motivation of participating in RCA, in which includes both economic and social factor. The participants develop different strategies of involving RCA. More than that, how participants face the RCA fraud? The study shows the victims are inclined not bringing a case to court.

RCA, underground financial instrument, is prevailing among general people in the past, because it was inconvenient to get money from formal financial institution at that time. As the government opens small credit and plural investment channels, these policies assault the ecology of RCA. Therefore, the economic benefits of RCA disappear slowly More and more young people nowadays, are relatively unwilling to follow the game of RCA. However, the social effect of RCA strongly reflected in, humanness,　reciprocal, identification and trust among people.

RCA relies mainly on women till now, no matter the transmission of information or operation of details. However, men are mostly the nominal participate. RCA will especially exist in the people, who are relatively weak of formal banking system. Lower status people can use RCA to change their social capital into the economic capital, especially the group of women or people in countryside area. On the other side of people in higher status, because of their reputation, who may not necessarily be the host of RCA