CREDIT UNION is a cooperative in which members borrow and lend money only among themselves.
Explanation: A credit union is a neighborhood savings and loans giver and comes as a ray of hope for those finding it difficult to meet the criteria for bank borrowing. For example, a widow may want to start a small tailoring unit and banks may not be able to provide loans to her. In such a case, she can approach the neighborhood credit union and seek loans stating that she can doing something good for the society in which she lives and can also pay them back on the long run.