Financial Cooperative Sector

The financial cooperative sector consists of organizations owned and operated by their members, who typically share a common bond, such as working in the same industry or living in the same community. These cooperatives offer financial services like savings, loans, and insurance, aiming to serve members' needs rather than maximize profits. They emphasize community support, democratic control, and equitable access to financial resources, fostering financial inclusion and stability within their member groups. Examples include credit unions and cooperative banks, which prioritize members’ welfare over shareholders' profits.