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 biggest distinction between credit unions and banks is that credit unions are not-for-profit organizations that are owned and operated by their members, who elect a board of directors. —Becca Stanek, TheWeek, 20 Apr. 2026

Check with your bank Many banks and credit unions offer free financial advice and financial planning resources, often available to anyone. —Daniel De Visé, USA Today, 16 Apr. 2026

The tax and tip prohibition would shave approximately 10% off the revenue that banks and credit unions receive from retailers via interchange fees — a transfer of wealth likely to number in the hundreds of millions. —Jerry Nowicki, CBS News, 15 Apr. 2026

Read more What’s a credit union? —Andreina Rodriguez, CNBC, 6 Apr. 2026

Word History

First Known Use

1843, in the meaning defined above

Rhymes for credit union

• antiunion
• communion
• disunion
• nonunion

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)