23/09/2022
What Is a Financial Cooperative?
A financial cooperative (co-op) is a type of financial institution that is owned and operated by its members. The goal of a financial cooperative is to act on behalf of a unified group to offer traditional banking services. These institutions attempt to differentiate themselves by offering above-average services along with competitive rates in the areas of insurance, lending, and investment dealings.
https://www.investopedia.com/terms/f/financial_cooperative.asp #:~:text=A%20financial%20cooperative%20is%20a,service%20along%20with%20competitive%20rates.
A financial cooperative is a financial institution that is owned and operated by its members.