Mutual Banks: an old model for a new economy?

Not all banks are created equal. Most are owned by Wall Street investors, while some are owned by their own customers (such as credit unions). The mutual bank, governed like a trust by a small group of “corporators,” occupies a position somewhere in between. Not beholden to stockholders, these mutuals are more free to act in ways that contribute to their communities, employees, and environmental sustainability. They can be critical catalysts for building community wealth and solidarity economies. Continue reading Mutual Banks: an old model for a new economy?