member-owned businesses

Member-owned businesses are organizations controlled and operated by their members, who are also the customers, workers, or stakeholders. Instead of outside owners or shareholders, the members share decision-making power and often share profits or benefits. Examples include cooperatives, credit unions, and mutual insurance companies. These businesses aim to serve the interests of their members rather than maximize profits for external investors. By being member-owned, they foster democratic control, accountability, and a focus on the needs of their members, promoting a collaborative approach to business that benefits those directly involved.