Story of Nayanagor Christian Co-operative Credit Union Ltd.

In the Gulshan-Banani-Baridhara area known as the elite area of Dhaka city, a large building was visible in 1992, but the picture of the Nadda-Badda-Kalachadpur area was completely opposite. All the facilities in the modern city were not expanded yet. The framework to mention was only the Rampura-Badda-Kuril link road. On the road side there were still small, small square shaped tea stalls, many spaces; All roads in the canals, bills, paddy fields and Nadda-Kalachandpur areas in Bashundhara were either raw or orphaned. At Baridhara there was a handful of folded buildings in hand. Since the cost of living is relatively comparatively low, many low-middle and middle-class Christian devotees begin their settlement in this area. Observers of the sub-continent were staying in Nayanagar area before 1992 and continued their campaign.

The Sultan of the Opalitas used to conduct a seminary here and there was a little chapel for their worship, especially on every Sunday, besides the seminary, the Christians of the area used to worship. The Chapel was named after the name of the erstwhile propeller of the subcontinent named St. D’mazenod Eugene, “D’ Majenod Catholic Church”. An average of 30-40 Christian devotees used to participate every Sunday. In order to mobilize the people of the Christian community in economic liberalization areas, some of them are visually impaired people, especially Mr. Subash Abraham D Costa, Mr. Sunil Celestin Costa, Mr. Dominic Rozario and Mr. Peter Fidelis Costa Nayanagar de Majenod Equal to Christians living in the area under the Catholic Church, the first to start a debting association Start the conversation between themselves. In this way, after a few discussions, they reached a conclusion and after publication of the matter on Sunday 8th March 1992: “D Mezenod Catholic Church”, Mr. Subash Abraham D. Costa issued the notice. Notices are prohibited from appearing to celebrate Sunday’s worship in order to discuss the interest of Christians who are interested in establishing a lending society based on the Nayanagar church. After worship, nearly 30 Christian saints gathered under the mango tree in the church premises.

According to the idea and ideology of Rev. Fr. Charles J Young, the Co-operatives Association was formed in different Dharmapalis of Dhaka city, but no co-operative society has been established under Nayanagar Dharmapalli, so many Christian people in the area are located at the “The Dhaka Christian Co-Operative Credit Union Ltd.” at Farmgate in Dhaka. There was a need to complete monthly transactions from the present, which is due to the underdeveloped communication system These much time consuming and laborious. In this way Mr. Subash Abraham D’ Costa, Mr. Sunil Selestin Costa and other people spoke about establishing a loan society based on Nayanagar church. Most of the deceased people left after the statement, 12 were present who also realized the point: agreed on the establishment of a co-ordination and credit society under Nayanagar Dharmapalli and decided to implement it. Thus, on 8th March 1992, the Association was established which initially was named “Nayanagar Christian Rindan Samity” and 12 members of the Christian community took membership of the committee. Later, some other Christian friends took the membership of the Association on that date. The primary value of each of the associations is fixed at 10 tk and the admission fee is Tk 10 /-. Thus, from a total of 27 members, the total amount of money was collected at a price of Tk. 1,760 /- according to the price of the scheduled shares.

A temporary 5 member convenor committee was formed to conduct the activities of the association and the name of Mr. Subash Abraham D’ Costa was proposed as the president.