Co-operative banks are financial institutions that are owned and operated by their members, who are also their customers. These banks aim to provide affordable banking services, such as savings accounts and loans, to their members while promoting community development. They operate on the principle of mutual assistance, where profits are often reinvested into the bank or distributed among members. Unlike traditional banks, co-operative banks focus on serving the needs of their members rather than maximizing profits. They are governed by a board elected by the members, ensuring that decisions reflect the interests of the community. This model fosters a sense of belonging and encourages local economic growth.