credit union

noun

: a cooperative association that makes small loans to its members at low interest rates and offers other banking services (such as savings and checking accounts)

Examples of credit union in a Sentence

Recent Examples on the Web

Given how important open banking is now poised to be in the U.S., banks and credit unions can position themselves as leaders through these key steps: Begin educating staff. —Deep Varma, Forbes, 12 Dec. 2024

The agency’s final rule on overdraft fees applies to the banks and credit unions with more than $10 billion in assets that dominate the U.S. market. —Susan Tompor, Detroit Free Press, 12 Dec. 2024

Under the final rule announced Thursday, banks and credit unions will have three different options. —Cheyenne Haslett, ABC News, 12 Dec. 2024

But as debit cards became more prevalent, banks and credit unions started generating significant profits from those charges. —Jon Healey, Los Angeles Times, 12 Dec. 2024

Word History

First Known Use

1843, in the meaning defined above

Kids Definition

credit union

noun

: a cooperative association that makes small loans to its members at low interest rates and offers other banking services (as savings and checking accounts)

Legal Definition

credit union

noun

: a cooperative association that makes small loans to its members at low interest rates and offers other banking services (as savings and checking accounts)