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

With a physical check, you usually have more choices: deposit it at your current bank or take it instead to, say, your credit union.

From MarketWatch

Mine had their main accounts at the credit union, but their mortgage was through a different bank.

From Salon

“I do think credit unions and fintechs could be your friend here, because they often have better terms, and they’re also willing to lend to a broader spectrum of people,” Rossman says.

From MarketWatch

New York Fed President John Williams told reporters at a credit union conference in Washington that the fallout hinges on how long they affect asset prices, especially the price of oil.

From Barron's

First, the authors conducted a real-world experiment with a credit union where 300 actual loan applicants were divided into three groups.

From The Wall Street Journal

Related Words

• lending institution