credit union

American  

noun

1. a cooperative group that makes loans to its members at low rates of interest.

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credit union British  

noun

1. a cooperative association whose members can obtain low-interest loans out of their combined savings

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credit union Cultural  

1. An organization formed by employees of a company or institution to make personal loans at low interest rates to all employees of that company or institution.

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Etymology

Origin of credit union

An Americanism dating back to 1910–15

Example Sentences

WSJ | Buy Side: Low‑interest lending options are often suited for established businesses and include bank, credit union, online and SBA lenders offering competitive rates.

From The Wall Street Journal • Apr. 15, 2026

According to the Associated Press news agency, she had previously worked as a dental assistant and at a credit union, but had mainly been a stay-at-home mum in recent years.

From BBC • Jan. 8, 2026

What are your thoughts on having retirement money managed by a credit union?

From MarketWatch • Dec. 28, 2025

I haven’t lived in North Dakota since I was 19, but I still bank in a credit union here, and took out $40 before making the drive from Bismarck.

From Salon • Dec. 18, 2025

A credit union may be organized by any seven or more persons with a share capital the par value of which shall not exceed $25.

From Readings in Money and Banking Selected and Adapted by Phillips, Chester Arthur

Related Words

• lending institution