Cooperative Financial Services are financial institutions owned and operated by their members, who share a common bond, such as a profession or community. These organizations, like credit unions and cooperative banks, focus on providing affordable financial products and services, including savings accounts, loans, and mortgages, to their members. Members of cooperative financial services benefit from lower fees and better interest rates compared to traditional banks. Profits generated by these institutions are often reinvested into the organization or returned to members in the form of dividends, promoting a sense of community and shared financial well-being.