mutual organizations

Mutual organizations are companies owned and operated for the benefit of their members rather than shareholders. Common examples include credit unions and mutual insurance companies. In a mutual organization, members pool their resources to access services, such as loans or insurance, often leading to lower costs and shared profits. Decisions are made democratically, with each member typically having one vote, regardless of how much they invest. This model focuses on serving the members' needs rather than maximizing profits, fostering a sense of community and mutual support among participants.