credit union 
noun
A non-profit-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.