credit union

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credit union

n.
A cooperative organization that makes loans to its members at low interest rates.

credit union

n
(Banking & Finance) a cooperative association whose members can obtain low-interest loans out of their combined savings

cred′it un`ion


n.
a cooperative group that makes loans to its members at low rates of interest.
[1910–15, Amer.]
ThesaurusAntonymsRelated WordsSynonymsLegend:
Noun1.credit union - a cooperative depository financial institution whose members can obtain loans from their combined savingscredit union - a cooperative depository financial institution whose members can obtain loans from their combined savings
banking company, banking concern, depository financial institution, bank - a financial institution that accepts deposits and channels the money into lending activities; "he cashed a check at the bank"; "that bank holds the mortgage on my home"
References in periodicals archive ?
Marc Serr, Member of Parliament for Nickel Belt, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development, and Minister responsible for FedNor, today announced an infrastructure investment of $100,000 in the Town of MarkstayWarren to help the community transform the Caisse Populaire Outdoor Rink into a year-round facility.
On November 24, 1908, "La Caisse Populaire, Ste-Marie," or The People's Bank, officially opened its doors on the west side of Manchester in the home of the credit union's first president, Attorney Joseph Boivin.
Alphonse Desjardins founded the first credit union in North America, the Caisse Populaire de Levis in 1901 in Quebec with a 10-cent deposit.
The federation allocates a minimum of $33,000 and a maximum of $66,000 to a fund, which must be matched by the Caisse Populaire involved.

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