credit institution
/krɛdɪt ɪnstɪˈtjuːʃən/ · cred.it.in.sti.tu.tion
noun
- A financial institution that provides credit to customers, such as a bank or a credit union. The credit institution offered a variety of loan options to its customers.
- An organization that provides credit services, including credit reporting and credit scoring. The credit institution helped the small business owner improve its credit score.
Did you know? The concept of credit institutions dates back to ancient civilizations, where temples and other institutions provided loans to citizens.