Glasgow Credit Union, the most successful in the UK with 31,000 members, scooped the Evening Times-backed title of Glasgow's Favourite Business.
GCU, a savings and loans company with a difference based at 95 Morrison Street, beat contenders including Abandon Ship Apparel, La Bonne Auberge, Gorbals Recycles Project, Glasgow Airport and Dales Cycles after a public vote.
Speaking at a glittering ceremony at the Thistle Hotel in the city centre, organised by Glasgow Chamber of Commerce, June Walker of GCU said: "I am thrilled for all the staff members of the credit union.
"I am absolutely delighted to collect this award and so excited to nominated in the Glasgow Business Awards."
Focus on customers is key to the success of GCU, which has grown in a particularly turbulent financial climate.
The loan scheme encourages people to save as well as pay back.
Evening Times editor, Tony Carlin, who presented the award, said: "I am delighted for Glasgow Credit Union who have been crowned Glasgow's Favourite Business by the readers of the Evening Times.
"It is an outstanding achievement.
"They are the UK's biggest and most successful credit union and very deserving winners."
Now in its 16th successive year, the prestigious awards have seen a record number of entries.
The number of firms put forward for the 14 categories was up by 10% and the Chamber said this was proof that local businesses are thriving.
Stuart Patrick, chief executive of Glasgow Chamber of Commerce, said: "This year we had a record number of entries, which was no surprise as these awards are continually a major success, and that is down to the diversity and strength of Glasgow's business community.
"I would like to congratulate all our winners this year, in particular our 2013 Lifetime Achievement Award winner, Vera Weisfeld, who has made a massive contribution to the retail sector and, perhaps most importantly, has used the Weisfeld Foundation to put something back into the communities that supported her business.
"Finally, I would like to thank our main sponsor, Bank of Scotland, which has been supporting the awards for over a decade, and all of our category sponsors."
Most Outstanding Business: Barr + Wray
Best Performing Business (1-10 employees): MadeBrave
Best Performing Business (11-50 employees): ligo
Best Performing Business (51+ employees): MB Aerospace
Sustainable Development: City Legacy
Creative Marketing Law at Work: (LAW)
Excellence in Skills and Learning: Barrhead Travel
Excellence in Customer Service: Clyde Travel Management
International Trade: (joint winners) Barr + Wray and William Grant & Sons Ltd
Young Business Person of the Year: Dr Vicki Fiddes (Vicki Fiddes Podiatry)
Excellence in Communications:GHA, part of the Wheatley Group
Innovation in Business: M Squared Lasers Ltd
Green Champion: Plan Bee Ltd
Family Business of the Year: A.C. Whyte & Co. Ltd
Evening Times Award - Glasgow's Favourite Business: Glasgow Credit Union
Lifetime Achievement: Vera Weisfeld OBE