Definition of credit union in English:
A nonprofit-making money cooperative whose members can borrow from pooled deposits at low interest rates.
- It may also be beneficial for you to obtain the lower interest rate credit card from your credit union.
- In the case of a building society and a credit union, a person usually has to be a member or a shareholder in order to be entitled to deal with it.
- For example, the interest rate the credit union charges will often be reduced if you pay back the loan early.
Definition of credit union in:
- British & World English dictionary
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