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

Every few years, federal regulators issue warnings to banks and credit unions about the dangers of senior financial abuse. —Lew Sichelman, Miami Herald, 14 Jan. 2025

Local banks and credit unions, on the other hand, are more likely to support local entrepreneurs, create affordable housing, and finance renewable energy projects tailored to the community's needs. —Morgan Simon, Forbes, 7 Jan. 2025

An investigation determined that hackers accessed the credit union’s systems between Sept. 5 and Nov. 4, potentially acquiring sensitive files. —Kurt Knutsson, Cyberguy Report, Fox News, 19 Dec. 2024

In California, state data show that some credit unions generate more than half their net income from overdraft fees. —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)