The Collaborative International Dictionary of English v.0.48:
Councilman \Coun"cil*man\ (koun"s[i^]l*man), n.; pl. Councilmen (koun"s[i^]l*men). A member of a council, especially of the common council of a city; a councilor. [1913 Webster]WordNet (r) 3.0 (2006):
councilman n 1: a man who is a council member