A Trip to Mausaid Christian Co-operative Credit Union (MCCCUL)
Mausaid Christian Co-operative Credit Union (MCCCUL), located in Uttarkhan, Dhaka, was established in 1965 with a noble goal of salvaging the poor rural Christian people of Mausaid and surrounding villages out of poverty. First started by collecting only 25 paisa of shares every month from every member and advancing a loan of only Tk. 170, MCCCUL now has asset of Tk. 100,000,000 and members can now borrow up to Tk. 800,000 for their business or personal needs.
On Saturday, 10th December 2011, the Department of Finance sent the students of Bank Fund Management to Uttarkhan, Dhaka to visit MCCCUL and learn the activities of a co-operative credit union and its contribution to the local economies. The trip was a day-long event and started with an informal introduction, formal lectures by the Chairman, Secretary, and the Head of Credit Committee of MCCCUL, tea break, tour of the MCCCUL premises, and question and answer session. From the lectures students were able to learn about co-operative credit unions, how it differs from banks, history of credit union movement in Bangladesh, the steps involved in extending loans to members, and the overall fund management of a credit union. Mr. Dilip Perris, a member of the MCCCUL, shared his story of having nothing to having almost everything in life for a Bangladeshi citizen with the continual help of the MCCCUL. Students were specifically thrilled by learning how low the interest rates can be for the MCCCUL members on its various credit schemes.
AIUB thanks Mr. Aldin Gonsalves, the Chairman of the MCCCUL, Mr. David Rozario, the Head of the Credit Committee, and Mr. Sunny Purification, the General Secretary of the MCCCUL for their valuable time and effort in sharing their experience with the AIUB students.
The trip was organized by Mr. Marvin Rozario, Lecturer of the Department of Finance and he was accompanied in the trip by Mr. Tanveer Ahmed, Ms. Kashfia Sharmin, Mr. Khondoker Pear Mohammad of the Faculty of Business. The students of Bank Fund Management want to thank Dr. A. H. M. Ehsanul Huda, the Director of BBA Program, and Dr. Dulal Mia, Head of the Department of Finance, for their support in organizing the trip.