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- Dictionarycredit union
noun
- 1. a non-profit-making money cooperative whose members can borrow from pooled deposits at low interest rates.
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- credit union
Member-owned financial cooperative
A credit union is a member-owned nonprofit cooperative financial institution. They may offer financial services equivalent to those of commercial banks, such as share accounts (savings accounts), share draft accounts (cheque accounts), credit cards, credit, share term certificates (certificates of deposit), and online banking. Normally, only a member of a credit union may deposit or borrow money. ... Wikipedia
