Finally upgraded craft association (5)
I believe the answer is:
guild
'association' is the definition.
(I know that guild is a type of association)
I don't understand the rest of the clue.
Can you help me to learn more?
(Other definitions for guild that I've seen before include "Alliance" , "corporation" , "Craftsmen's or merchants' association" , "brotherhood" , "Group of craftsmen" .)