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

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

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

From Salon • Mar. 24, 2026

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 • Mar. 3, 2026

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