co-operative banking

Co-operative banking is a type of financial institution owned and operated by its members, who are also its customers. Instead of aiming to maximize profits for shareholders, co-operative banks focus on serving their members’ needs, often offering better interest rates, lower fees, and personalized service. These banks support local communities and emphasize democratic decision-making, meaning members have a say in how the bank is run. The main goal is to provide financial services that benefit the members, fostering financial stability and community development.