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Finance that serves members, not shareholders

A policy-savvy examination of not-for-profit financial models—credit unions, cooperatives, and people-first finance.

This site explores financial institutions that operate without shareholder ownership—institutions structured to serve members, customers, or communities rather than external investors.

The focus is analytical and comparative, examining how governance, incentives, and regulation shape outcomes across different financial models.

Incentives

Ownership structures matter. Not-for-profit finance aligns institutional goals with user outcomes rather than equity returns.

Stability

Many cooperative and mutual models emphasize long-term resilience over short-term profitability.

Policy Relevance

Institutional diversity plays a critical role in competition, consumer protection, and systemic risk.

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