We used to have some large cooperative bank-like institutions in SA.  They were called the (Mutual) Building Societies.  They were eventually hijacked by the "Stellenbosch Mafia" (who were supported by their political allies) to become fully-fledged commercial banks.  While they existed, they provided entirely satisfactory mortgage and savings facilities, even stretching to providing low-cost basic banking services.  to their subscribers.  The takeover was accompanied by a "big-lie" campaign that they were on the verge of bankruptcy, which applied to their counterparts in the USA, but never in SA.