Like credit unions, cooperative banks or 'Customer Owned banks' are owned by their customers and follow the cooperative principle of one person, one vote. Unlike credit unions, however, cooperative banks are often regulated under both banking and cooperative legislation. They provide services such as savings and loans to non-members as well as to members, and some participate in the wholesale markets for bonds, money and even equities.
They tend to be more customer friendly in terms of their rates than Bigger banks.

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