A non-profit financial institution that is owned and operated entirely by its members. Credit unions provide financial services for their members, including savings and lending. Large organizations and firms may organize credit unions for their members and employees, respectively. To join a credit union, an individual must ordinarily belong to a participating organization, such as a college alumni association or labor union. When an individual deposits money in a credit union, he/she becomes a member of the union because the deposit is considered partial ownership in the credit union.