credit union

noun

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

credit union

noun

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

credit union

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.

Word History and Origins

Origin of credit union¹

An Americanism dating back to 1910–15

Example Sentences

A credit union, if you’re a member of one, can help you with that, too.

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Total hedge fund assets in the first quarter stood at $12.5 trillion, the Fed noted, while bank and credit union assets were $28.6 trillion as of the second quarter.

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A new credit union has loan sharks in its sights as it becomes the first of its kind to launch in Stoke-on-Trent in more than a decade.

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Banks and credit unions are offering relief to the hundreds of thousands of unpaid federal employees struggling to cover monthly bills during the government shutdown — and many workers are taking them up on it.

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Some credit unions have “second-chance” loans for people with poor or no credit history.

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Related Words

• lending institution www.thesaurus.com