mutuals

Mutuals, short for mutual organizations, are businesses owned and operated by their members, rather than shareholders. They are typically formed to provide services or benefits, such as insurance, banking, or healthcare. Members contribute to the organization and, in return, have a say in its governance and share in its profits, which are often reinvested or distributed. This model promotes member interests over profit maximization, aligning the organization's goals with the needs of its community. Examples include mutual insurance companies and credit unions, which prioritize member service and lower costs.