banking mutualism

Banking mutualism is a cooperative approach where banks are owned and operated by their members, who are also their customers. Instead of generating profits for external shareholders, these mutual banks aim to serve their members' financial needs, offering services like savings accounts, loans, and payments. Decisions are made democratically, with members having an equal say, fostering trust and community focus. This model emphasizes financial stability, affordability, and mutual support, aligning the bank's goals with the interests of its members rather than maximizing profits for outsiders.