member-owned organizations

Member-owned organizations are businesses or groups that are owned and controlled by their members rather than external shareholders. Each member typically has a say in the organization’s decisions and shares in its profits. Common examples include cooperatives, credit unions, and mutual insurance companies. These organizations aim to serve the interests of their members rather than maximizing profit, fostering a sense of community and mutual support. Members usually benefit from services tailored to their needs, often at lower costs, promoting participation and collaboration among individuals with shared goals or interests.