Share This Article:

Economic Definition of credit union. Defined.

Offline Version: PDF

Term credit union Definition: A non-profit depository institution chartered by the National Credit Union Administration that was established to provide members of specific group, such as employees of a company, with low-cost banking services. However, credit unions have expanded their activities and now provide most of the services of traditional banks, including checkable deposits.


« credit crunch | creditor nation »


Alphabetical Reference to Over 2,000 Economic Terms