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

The Netflix film Bank of Dave, which was a fictionalised account of his attempts to get a banking licence for his credit union, was released in 2023, starring Rory Kinnear.

From BBC • May 4, 2026

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

From Salon • Mar. 24, 2026

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

From MarketWatch • Dec. 28, 2025

The current deposit insurance limit of $250,000 covers 99% External link of bank and credit union accounts.

From Barron's • 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