 |
Definition of 'Credit Union'
Member-owned financial co-operative. These institutions are created and operated by its members and profits are shared amongst the owners.
|
 |
Investopedia explains 'Credit Union'
As soon as you deposit funds into a credit union account, you become a partial owner and participate in the union's profitability. Credit unions are formed by large corporations and organizations for their employees and members.
|
|
|