Credit Union
/ˈkrɛdɪt ˌjuːnjən/
Definitions
- (n.) A member-owned financial cooperative providing savings, credit, and other financial services primarily to its members.
The credit union approved her loan application with favorable terms.
Forms
- credit unions
Related terms
See also
Commentary
Credit unions differ from banks by being member-owned and nonprofit-oriented, often emphasizing community or common bond membership eligibility.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.