Member-owned cooperative

A member-owned cooperative is a business owned and operated by its members, who typically use its services or products. Instead of shareholders seeking profit, members have an equal say in decision-making and share in the cooperative’s profits or benefits. Examples include credit unions, consumer co-ops, and farmer cooperatives. This structure emphasizes democratic control, community involvement, and prioritizing members’ needs over profits. The goal is to serve the collective interests of members while providing affordable, quality services or goods.