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

For people who need help with a small loan, both Citizens Advice and the FCA suggest contacting your local credit union.

From BBC • May 7, 2026

I also belong to a credit union that offers free financial advice.

From MarketWatch • Dec. 28, 2025

Steve Levy, a 62-year-old wealth-management adviser in Texas, recently hit the market to replace an aging Toyota pickup truck and started by looking at potential interest rates from his local credit union.

From The Wall Street Journal • Dec. 23, 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