Cooperative Bank

A cooperative bank is a financial institution that is owned and operated by its members, who are also its customers. Unlike traditional banks focused on profits, cooperative banks aim to serve the interests of their members by providing financial services, like loans and savings accounts, often at lower costs. Members typically have a say in decision-making processes, like electing a board of directors. These banks operate on the principles of cooperation and mutual assistance, fostering community development and ensuring that profits are reinvested to benefit members rather than shareholders.