Credit unions had $236.8 billion in outstanding consumer credit in February, up from $238.4 billion in January, the Federal Reserve reported today.
Overall, in a further sign of the country's economic slowdown, outstanding consumer credit rose to $2.560 trillion in February. .That data does not include mortgages and most other real estate loans.
At credit unions, revolving debt fell to $32.2 billion, compared with $33 billion in January. Revolving debt, which mostly refers to credit-card related payments, fell overall to $953.1 billion, compared to $975.9 billion in January.
At credit unions, non-revolving credit, loans for cars and boats, was $204.6 billion in February, compared with $205.1 billion in January. Overall, that kind of credit was $1.607 trillion, down from $1.619 trillion in January.
The Fed also reported that the use of credit cards and other kinds of borrowing fell at an annual rate of $7.48 billion-3.5%-from January.
