Recent Examples of credit union from the Web
The Greater Abyssinia credit union tried to merge with the Faith Community United Credit Union in November 2015.
Over the past 18 months, Group-IB has uncovered evidence that MoneyTaker has successfully breached 18 banks or credit unions, two financial services businesses, and one law firm.
Born out of Dodd-Frank, the bureau is designed to protect consumers from abuses in the financial sector, with jurisdiction over banks, credit unions, payday lenders, debt collectors, and other financial companies.
Established in 1927, Unity One Credit Union is the oldest credit union in Texas.
Car manufacturers tend to offer the lowest rates, followed by credit unions, WalletHub’s analysis found, while rates at national and local banks tended to be higher.
Online banks and credit unions are more likely than traditional banks not to charge customers who overdraw their accounts, or to charge very little.
Car dealerships often have access to dealer financing that can be a great deal, but perhaps your bank or credit union has a better one.
The Empty Stocking Fund accepts donations of cash and goods for the holidays, at 45 countywide collection sites, including many banks, credit union offices, fitness centers, local businesses and branches of the Harford County Public Library.
These example sentences are selected automatically from various online news sources to reflect current usage of the word 'credit union.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.
First Known Use of credit union
Financial Definition of CREDIT UNION
What It Is
How It Works
A credit union’s fees, interest rates and levels of service are highly responsive to the needs of its members. Generally, they offer lower interest rates on loans and higher interest rates on savings accounts and certificates of deposit.
Credit unions may be formed among any group of members who have a common interest -- usually community groups or employees of a particular organization. The board members of the credit unions are usually volunteers. Credit unions are generally not-for-profit, so often profits are shared by members.
Why It Matters
Credit unions offer most of the same services as banks, but differ in that individual members are owners and there are generally less assets under management. Because credit unions are usually considerably smaller than banks, they are able to offer more personalized advisory services to their members and they may offer lower cost banking service.
Federal and most state-chartered credit unions in the United States are able to insure their members’ savings accounts through the National Credit Union Administration, a federal organization with the full faith and credit of the U.S. government.
CREDIT UNION Defined for English Language Learners
Definition of credit union for English Language Learners
: an organization that gives small loans to its members at low interest rates and that offers savings and checking accounts
legal Definition of credit union
Learn More about credit union
Britannica.com: Encyclopedia article about credit union
Seen and Heard
What made you want to look up credit union? Please tell us where you read or heard it (including the quote, if possible).