The term CO. UNIT is a combination of two words, DEPT (4 letters) and DIV (3 letters). DEPT stands for Department, which is a division of an organization that is responsible for a specific area of activity. DIV stands for Division, which is a large group within an organization that is divided into smaller units or departments. Together, CO. UNIT refers to a Company Unit, which is a unit of a company that is composed of multiple departments and divisions.