Federal Credit Union - FCU means a cooperative organization that makes loans to its members at favorable interest rates. Membership of a credit union is restricted to individuals who meet certain residential or occupational criteria. It utilizes funds deposited by a small group of people who are its sole borrowers and beneficiaries.
Additional meaning of Federal Credit Union - FCU:
Credit unions are chartered and regulated by the National Credit Union Administration, which is a federal government agency that functions much like the FDIC.