Archbishop: Christian Credit Unions are for honest people, no place for wicked

Archbishop Bejoy D'Cruze, OMI of Dhaka, spoke about the late Father Charles Young, who pioneered credit unions among the Bangladeshi people. Archbishop invites to follow the value of honesty promoted by Father Young during his life.

"Father Young always dreamed of peace. He was a good planner and visionary. He thought credit unions were for honest people. There is no place for the wicked here. He has to follow that ideal," said Archbishop D'Cruze.

Archbishop D'Cruze was speaking as the Chief Guest during the first Annual General Body meeting of the Father Charles J. Young Foundation at B.K Good Conference Hall room, Dhaka, on December 6.

"Father Young always dreamed of Christian participation in the leadership, which is now visible," said Archbishop D'Cruze.

Father Charles J. Young was the founder of the Christian Co-Operative Credit Union Ltd. in Bangladesh, helping millions of people to overcome poverty and become self-reliant in recent decades.

The clergyman brought microcredit to Bangladesh, founding the first bank – Christian Cooperative Credit Union Ltd (CCCUL) in Dhaka, granting microloans to the poor. It is estimated that around 10 million people have benefitted from the advantages of the credit model of Father Young.

"It is possible to promote Father Charles's values ​​and teachings through the Young Foundation. It is possible to fulfill his dream in this country," said Pankaj Gilbert Costa, chairman of the foundation.

Costa expressed that "Dhaka Credit members are interested in contributing to the development of the society by conducting survey work, youth rallies, issue-based discussion meetings, women's development workshops, research on credit union, providing scholarships to meritorious students, health education, inter-religious dialogue and maintaining good relations with religious leader of other faiths."  

Pankaj Gilbert Costa thanked God, generous donors and all associated with the foundation. Costa is working on a book on the life of Father Young.

Father Charles J. Young Foundation, named after the American Holy Cross missionary, was launched in capital Dhaka on November 14, 31 years after the priest's death in a road crash.

The foundation prioritizes research into cooperatives, offers scholarships to poor but deserving students and promotes good governance in cooperatives in Bangladesh.

The Christian Cooperative Credit Union Limited (CCCUL) in Dhaka, the largest cooperative in the country, is the initial funder of the foundation.

The cooperative movement became very popular after Bangladesh gained independence from Pakistan in 1971. Today, there are more than nine hundred cooperative credit unions in Bangladesh and two hundred fifty based in the Christian community.

Father Young was born in New York in 1904, entered the Holy Cross seminary in 1923, and was ordained a priest in 1928. The following year he graduated from Notre Dame University (Indiana, US), where he became the chaplain in 1933.

In 1933, he went to East Bengal, then part of British India, and served in various Catholic parishes before engaging with the cooperatives movement.

He died in a road crash in Dhaka on November 14, 1988, and as per his final wish, was buried at the cemetery of Tejgaon Holy Rosary Church.

Father Young's philosophy of helping with small loans has become so widespread that at least 250 credit unions across the country, usually associated with parishes, schools, and universities.

Other notable guest present for the occasion were Father Frank Quinlivan CSC, Administration Director of Notre Dame University Development, Bangladesh Awami League Central Executive Member, Vice President Raymond Areng, and Spiritual Director of Romna St. Joseph Intermediate Seminar, Father Elias Mondal and Emdad Hossain Malek.