The poor - and the cooperative endeavour
Z A M Khairuzzaman appreciates a work on the subject
The credit union is a bank of poor people. It has been playing a major role in the economic emancipation of people in the country. Being united, people save their hard-earned money here by forming credit unions to meet their financial needs. Swapan Rozario is a gentle, considerate and dedicated man who loves the co-operative movement and particularly the credit union movement. As a responsible official of the Christian Co-operative Credit Union Ltd, Dhaka, he has gathered adequate experience. Based on the experience, he has written many articles in easy and lucid language. His articles were published at different times in the union's publicity organ, Samabarta. This book is a compilation of the stories following further improvement. The author has dedicated the book to his beloved parents late Abraham Rozario and Veronica Koraiya. In the beginning, he remembers with gratitude co-operative personalities like Reverend Father Charles Joseph Young, Reverend Bernard McCarthy and Reverend Daniel Corraya. He has divided the book into several chapters to make members of the credit union aware about its activities. He has elaborately dwelt on benefits from credit union, loan defaulting: reasons and preventives, loan guarantees, easy ways to get loans, criteria for approval of loan, credit and rights of credit union members, ways to evade crowd, moral obligations of credit union staffers, things to do by both credit union staffers and members, expectations and rewards after 50 years of credit union as well as its activities. Economic conditions of the country's Christian community were miserable in the 1950s. Reverend Father Charles Joseph Young, CSC, was shocked to see their misery. From then on he started thinking of changing their fate. He undertook a noble initiative to improve their condition. He founded a co-operative society at Laxmibazar in Dhaka on July 3, 1955. With the passage of time, the society has now grown into a large banyan tree, the Christian Co-operative Credit Union Ltd, Dhaka. Father Young was born at Rochester of New York state in the United States of America. His father was Daniel Young and his mother Mary Jennings. He passed away in a tragic road accident in Bangladesh on November 14, 1988. He was buried at Tejgaon Holy Rozario Church graveyard. But the author laments that no tribute has been paid to him; his portraits have not been hung in many Christian co-operative unions. He has suggested bestowing the title of "Young" to the ideal members of unions. He is of the opinion that a Father Young library should be established in memory of Father Charles Joseph Young where books on his life and work will be available. He has also proposed setting up schools and educational institutions in the name of the great man. Scholarships may also be introduced in his name, Swapan suggests. Finally, the writer hopes that the co-operatives founded by Father Young will one day be able to come by the most coveted of awards, the Nobel Prize. The Christian Co-operative Credit Union Ltd, Dhaka, is a faith-based financial cooperative, owned by its members. It has been a source of financial services to its members and the community. It offers a valuable source for savings and credit for members. The credit union has been expanding its purposes so as to meet as many of the financial needs of its members as possible. The writer stresses the importance of financial education, not only to persuade people to join the union and to save and borrow here, but to use the union as a source of unbiased, factual information about effective use of money in buying, investing, preparing for retirement, insurance programming and other aspects of family money management. According to the author, "Credit Union is not money only." The credit union can also play a vital role in social development also. It increases the bond of co-operation besides nurturing honesty. He cites a quotation of Father J Young, who rightly said once, "There is no room for a dishonest person in Credit Union". The writer terms it a glory to be a member of the union because it promotes thrift, unity as well and also helps create employment. Because of its non-profit character, any excess income it generates is given back to members in the form of lower interest rates, higher dividends and more services, he notes. The work notes that besides granting loans, the credit union may extend its social development activities by introducing various loans, publishing co-operative journals, introducing English courses, computer courses, undertaking health projects, housing projects, milk projects, savings projects and handicrafts projects. Born in 1971, Swapan Rozario hails from village Harikhola of Kaliganj upazila in Gazipur district. He did his graduation from New Model Degree College under National University. He began his writing career during his student life. Even after entering service, he did not stop his writing pursuit. He has been involved with various social organizations, including the co-operative society.
For all latest news, follow The Daily Star's Google News channel.
Comments