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

The Key Difference Between Banks And Credit Unions Amstutz explains that a primary difference between credit union members and bank customers is that members of credit unions are part-owners of the organization. —Jasmine Browley, Essence, 15 June 2024

All banks and credit unions typically observe Juneteenth and close. —Raphael Romero Ruiz, The Arizona Republic, 15 June 2024

This category of savings accounts are typically offered by online banks and credit unions, as opposed to traditional brick-and-mortar banks. —Becca Stanek, theweek, 15 Apr. 2024

Look for the credit union team members distributing the vouchers starting around 10 a.m. on Wednesday in the Campus Martius and Grand Circus Park areas, according to a news release. —Susan Selasky, Detroit Free Press, 13 Mar. 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)