Meaning of “credit union” in the English Dictionary

american-english dictionary

"credit union" in American English

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credit unionnoun [ C ]

us /ˈkred·ɪt ˌjun·jən/

(Definition of “credit union” from the Cambridge Academic Content Dictionary © Cambridge University Press)

"credit union" in Business English

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credit unionnoun [ C ]

uk us also credit society FINANCE

a financial organization that is owned and controlled by its members, who can borrow at low interest rates from the money they have saved as a group:

To take out a loan, a customer must first be a member of the credit union by opening a savings account with a minimal balance.
Credit unions are worth considering if you are unhappy with your existing bank or building society.

(Definition of “credit union” from the Cambridge Business English Dictionary © Cambridge University Press)