Oikocredit, a global economic justice and economic development tool conceived at the World Council of Churches, is celebrating its 50th anniversary.

The WCC's general secretary, Rev. Jerry Pillay, sent a letter of congratulations to Oikocredit's managing director and CEO, Miriam 't Lam and to all in Oikocredit. Praising the group for economic justice in the "image of God's reign."

"The World Council of Churches celebrates Oikocredit's creative, practical initiative for and dedication to a better human living through facilitating economic development and sustainability," Pillay wrote on Nov. 5.

"Through your global network of members and partners working for economic justice and social development, Oikocredit honours its ecumenical roots and demonstrates the power of Christian churches and their partners to renew the world in the image of God's reign."

He noted that over five decades, Oikocredit has offered a creative, responsible vehicle mobilizing invested assets of individuals, churches, faith-based organizations, and institutions to finance business startups, seed agriculture, develop alternate energy sources, and provide training and capacity-building.

"You have empowered enterprises and communities and benefitted millions of people in dozens of countries," wrote Pillay.

"Such an initiative reflects in part the turbulent yet hopeful spirit of its founding years, following on the WCC's consequential 4th Assembly, held in Uppsala, Sweden, in 1968."

Rev. Kenneth Mtata, WCC's program director for Life, Justice, and Peace, reflected on the development of Oikokredit in August 2024 during an interview with Mirjam 't Lam, managing director of Oikocredit.

'T Lam told Mtata: The idea of Oikocredit was born in 1968 at the annual gathering of the World Council of Churches.

"At that time, like today, many things were happening across the world. There was a war in Vietnam, concerns about apartheid in the U.S. and South Africa, and concerns about the ever-growing arms industry."

She said the churches, who had some excess liquidity, felt they were placiing deposits in banks that financed injustice.

         - WCC's Uppsala Assembly

"Then, at the World Council of Churches 4th Assembly in Uppsala, church leaders said, "We need to do differently; can we mobilize our excess liquidity for good?" noted t'Lam.

After seven years of talks, Oikocredit was established to promote responsible investing and create opportunities for people on low incomes to become more resilient and live with dignity.

'T Lam noted, "If you look at how we operate, especially in the beginning, there were 88 very committed churches that helped shape our operations.

"That grew to about 400 church-related organizations that supported the mission of Oikocredit and provided us with capital. But what was far more interesting is that many of the religious community, the people that went to church, wanted to become active."

So, it was not only the churches but the people who got to know Oikocredit because of information shared in the church, and they said they wanted to become an investor in Oikocredit.

As of 2024, approximately 45,000 private individuals supported the mission of Oikocredit with their capital.

T Lam explained, "There are many ways that churches can be involved with Oikocredit. If they have excess liquidity, they can put it in as an investment in Oikocredit.

"Then, they will be informed about what we do with the money. Suppose a church is in a vulnerable community and wants, for example, to do a pilot on community resilience and climate.

"In that case, we have a foundation where project proposals can be sent for a grant. If that project helps to foster community resilience, we can look from the foundation if we can give a grant to pilot such a thing."