What is another word for credit union?

373 synonyms found


[ kɹˈɛdɪt jˈuːni͡ən], [ kɹˈɛdɪt jˈuːni‍ən], [ k_ɹ_ˈɛ_d_ɪ_t j_ˈuː_n_iə_n]

Synonyms for Credit union:

How to use "Credit union" in context?

A credit union is a cooperative organization that provides banking products and services to its members. Credit unions are regulated by the National Credit Union Administration (NCUA).

Credit unions were originally founded in the late 19th century in the midst of the financial Panic of 1873. Their founders were concerned that the large commercial banks were using their positions of power to discriminate against smaller banks and farmers. As a result, credit unions were designed as cooperatives with membership based on need, not on wealth.

Today, credit unions serve members in the United States and in over 100 other countries.

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